Sonora Investment Management Group LLC grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 345,485 shares of the network equipment provider's stock after acquiring an additional 12,876 shares during the quarter. Cisco Systems comprises about 1.6% of Sonora Investment Management Group LLC's portfolio, making the stock its 17th biggest position. Sonora Investment Management Group LLC's holdings in Cisco Systems were worth $20,453,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in CSCO. State Street Corp increased its holdings in shares of Cisco Systems by 1.7% during the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider's stock valued at $10,297,506,000 after acquiring an additional 3,241,682 shares in the last quarter. Geode Capital Management LLC grew its position in Cisco Systems by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider's stock worth $5,075,320,000 after purchasing an additional 1,262,017 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Cisco Systems by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider's stock valued at $4,402,239,000 after purchasing an additional 1,677,383 shares in the last quarter. FMR LLC raised its holdings in shares of Cisco Systems by 10.1% in the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider's stock worth $3,402,432,000 after buying an additional 5,885,879 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of Cisco Systems by 1.2% during the fourth quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider's stock worth $1,107,930,000 after buying an additional 216,632 shares during the period. 73.33% of the stock is owned by institutional investors.
Cisco Systems Stock Up 0.7 %
Shares of CSCO traded up $0.44 during midday trading on Monday, hitting $61.04. The company had a trading volume of 20,343,388 shares, compared to its average volume of 19,057,650. The company's 50-day simple moving average is $59.44 and its 200-day simple moving average is $54.58. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $62.31. The firm has a market capitalization of $243.11 billion, a P/E ratio of 26.20, a P/E/G ratio of 4.51 and a beta of 0.84.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analysts' expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business's quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current year.
Cisco Systems Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date was Friday, January 3rd. Cisco Systems's dividend payout ratio (DPR) is 68.67%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on CSCO shares. JPMorgan Chase & Co. raised Cisco Systems from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Tigress Financial upped their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a "buy" rating in a report on Monday, October 14th. Citigroup raised their target price on shares of Cisco Systems from $64.00 to $68.00 and gave the stock a "buy" rating in a report on Friday, January 17th. BNP Paribas raised shares of Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price target on the stock in a report on Tuesday, January 28th. Finally, Bank of America lifted their price objective on Cisco Systems from $60.00 to $72.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $62.72.
Check Out Our Latest Research Report on CSCO
Insider Activity at Cisco Systems
In other Cisco Systems news, SVP Maria Victoria Wong sold 4,881 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total transaction of $291,542.13. Following the completion of the sale, the senior vice president now directly owns 51,931 shares of the company's stock, valued at approximately $3,101,838.63. This trade represents a 8.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares in the company, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock valued at $20,349,721 over the last ninety days. Insiders own 0.01% of the company's stock.
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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