MGO One Seven LLC lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 123,954 shares of the network equipment provider's stock after acquiring an additional 5,280 shares during the period. MGO One Seven LLC's holdings in Cisco Systems were worth $7,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also modified their holdings of the company. Advisory Resource Group raised its holdings in Cisco Systems by 1.9% in the 3rd quarter. Advisory Resource Group now owns 97,718 shares of the network equipment provider's stock worth $5,201,000 after purchasing an additional 1,784 shares during the period. Morse Asset Management Inc purchased a new stake in Cisco Systems in the 3rd quarter worth $798,000. SkyView Investment Advisors LLC lifted its holdings in Cisco Systems by 4.5% during the third quarter. SkyView Investment Advisors LLC now owns 10,188 shares of the network equipment provider's stock valued at $542,000 after purchasing an additional 440 shares in the last quarter. Tudor Financial Inc. purchased a new stake in shares of Cisco Systems during the third quarter worth about $1,097,000. Finally, World Investment Advisors LLC lifted its stake in Cisco Systems by 13.9% in the 3rd quarter. World Investment Advisors LLC now owns 137,503 shares of the network equipment provider's stock valued at $7,318,000 after buying an additional 16,749 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.
Cisco Systems Stock Up 0.7 %
Shares of NASDAQ:CSCO traded up $0.42 during trading hours on Friday, reaching $56.71. The stock had a trading volume of 16,493,138 shares, compared to its average volume of 20,206,150. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The firm's 50 day moving average is $59.99 and its 200-day moving average is $59.16. The stock has a market capitalization of $225.61 billion, a price-to-earnings ratio of 24.76, a P/E/G ratio of 4.16 and a beta of 0.86. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.
Cisco Systems Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend was Thursday, April 3rd. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's dividend payout ratio (DPR) is currently 71.62%.
Cisco Systems declared that its board has initiated a stock buyback program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.
Analyst Ratings Changes
A number of brokerages have recently issued reports on CSCO. JPMorgan Chase & Co. lowered their price target on Cisco Systems from $73.00 to $70.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Rosenblatt Securities dropped their target price on shares of Cisco Systems from $80.00 to $63.00 and set a "buy" rating for the company in a report on Tuesday. DZ Bank upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. Melius Research raised shares of Cisco Systems from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Finally, Citigroup cut their price target on Cisco Systems from $73.00 to $68.00 and set a "buy" rating for the company in a report on Monday, April 14th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $64.68.
View Our Latest Analysis on CSCO
Insiders Place Their Bets
In other news, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares in the company, valued at approximately $2,693,013.45. This trade represents a 1.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. The trade was a 1.07 % 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 over the last quarter. Company insiders own 0.01% of the company's stock.
Cisco Systems Company Profile
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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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