Guggenheim Capital LLC Has $129.69 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Guggenheim Capital LLC decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,190,744 shares of the network equipment provider's stock after selling 67,196 shares during the quarter. Cisco Systems comprises 1.1% of Guggenheim Capital LLC's holdings, making the stock its 10th largest position. Guggenheim Capital LLC owned 0.06% of Cisco Systems worth $129,692,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSCO. Pflug Koory LLC boosted its holdings in shares of Cisco Systems by 0.5% in the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider's stock worth $1,955,000 after buying an additional 165 shares during the period. Glass Jacobson Investment Advisors llc raised its stake in Cisco Systems by 8.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock valued at $123,000 after purchasing an additional 166 shares during the period. Fairhaven Wealth Management LLC boosted its position in shares of Cisco Systems by 2.3% in the fourth quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider's stock worth $449,000 after buying an additional 167 shares during the period. BlackDiamond Wealth Management LLC lifted its stake in Cisco Systems by 3.1% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock worth $335,000 after acquiring an additional 168 shares in the last quarter. Finally, Maple Capital Management Inc. boosted its position in Cisco Systems by 1.4% during the fourth quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider's stock valued at $709,000 after purchasing an additional 170 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Trading Down 0.1 %

NASDAQ CSCO traded down $0.04 during trading hours on Friday, hitting $55.73. The company's stock had a trading volume of 15,874,222 shares, compared to its average volume of 20,149,900. The stock has a fifty day moving average of $60.69 and a 200 day moving average of $59.08. The firm has a market capitalization of $221.69 billion, a P/E ratio of 24.33, a PEG ratio of 4.16 and a beta of 0.86. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Cisco Systems's previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.94%. Cisco Systems's payout ratio is currently 71.62%.

Cisco Systems announced that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CSCO. Rosenblatt Securities upgraded Cisco Systems from a "neutral" rating to a "buy" rating and lifted their price target for the company from $66.00 to $80.00 in a report on Thursday, February 13th. JPMorgan Chase & Co. lowered their target price on shares of Cisco Systems from $73.00 to $70.00 and set an "overweight" rating on the stock in a research note on Thursday. BNP Paribas raised Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price objective on the stock in a report on Tuesday, January 28th. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a report on Thursday, March 6th. Finally, Melius upgraded Cisco Systems from a "hold" rating to a "buy" rating and increased their price objective for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $65.58.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the sale, the senior vice president now owns 44,155 shares of the company's stock, valued at $2,693,013.45. This trade represents a 1.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares of the company's stock, valued at approximately $11,604,868.80. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,547 shares of company stock valued at $4,275,553. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Profile

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.