Jaffetilchin Investment Partners LLC lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 78.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,346 shares of the network equipment provider's stock after acquiring an additional 17,787 shares during the quarter. Jaffetilchin Investment Partners LLC's holdings in Cisco Systems were worth $2,388,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in Cisco Systems in the 4th quarter worth about $3,297,905,000. FMR LLC increased its position in shares of Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after acquiring an additional 13,285,052 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $560,722,000. Alliancebernstein L.P. boosted its stake in Cisco Systems by 50.3% in the 4th quarter. Alliancebernstein L.P. now owns 6,627,956 shares of the network equipment provider's stock worth $392,375,000 after purchasing an additional 2,219,311 shares during the period. Finally, APG Asset Management N.V. grew its position in Cisco Systems by 520.4% during the 4th quarter. APG Asset Management N.V. now owns 2,608,715 shares of the network equipment provider's stock worth $149,141,000 after purchasing an additional 2,188,252 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the company. BNP Paribas upgraded Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 target price for the company in a report on Tuesday, January 28th. DZ Bank raised Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 18th. Morgan Stanley lifted their target price on Cisco Systems from $62.00 to $68.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. UBS Group increased their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Finally, Piper Sandler decreased their target price on shares of Cisco Systems from $72.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $65.74.
Check Out Our Latest Stock Report on Cisco Systems
Insiders Place Their Bets
In other news, SVP Maria Victoria Wong sold 762 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the transaction, the senior vice president now directly owns 44,155 shares in the company, valued at approximately $2,693,013.45. This represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Scott Herren sold 19,929 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the completion of the sale, the chief financial officer now directly owns 335,605 shares of the company's stock, valued at approximately $21,616,318.05. This represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,547 shares of company stock valued at $4,275,553 in the last 90 days. 0.01% of the stock is currently owned by insiders.
Cisco Systems Price Performance
CSCO stock traded down $0.09 during trading on Tuesday, hitting $57.32. 4,906,792 shares of the stock traded hands, compared to its average volume of 20,038,116. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The stock has a market cap of $228.04 billion, a price-to-earnings ratio of 25.03, a P/E/G ratio of 4.16 and a beta of 0.86. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The company has a 50 day simple moving average of $61.19 and a 200 day simple moving average of $59.08.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
Cisco Systems Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 annualized dividend and a yield of 2.86%. Cisco Systems's dividend payout ratio is 71.62%.
Cisco Systems announced that its Board of Directors has approved a share buyback program on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.
About Cisco Systems
(
Free Report)
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.
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