Ameriprise Financial Inc. Has $2.22 Billion Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Ameriprise Financial Inc. reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 1.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,477,026 shares of the network equipment provider's stock after selling 477,160 shares during the quarter. Cisco Systems makes up about 0.6% of Ameriprise Financial Inc.'s portfolio, making the stock its 25th biggest holding. Ameriprise Financial Inc. owned 0.94% of Cisco Systems worth $2,218,661,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new stake in Cisco Systems in the 4th quarter valued at about $26,000. Navigoe LLC bought a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. acquired a new stake in Cisco Systems during the fourth quarter worth approximately $30,000. Campbell Capital Management Inc. bought a new position in Cisco Systems during the 4th quarter worth $31,000. Finally, Highline Wealth Partners LLC raised its holdings in Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock valued at $35,000 after acquiring an additional 260 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Trading Down 0.0 %

Shares of CSCO traded down $0.02 during trading hours on Friday, hitting $59.69. 10,929,954 shares of the stock were exchanged, compared to its average volume of 21,869,648. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The business has a 50-day moving average of $58.85 and a 200-day moving average of $59.41. The firm has a market capitalization of $237.46 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

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

Cisco Systems announced that its board has approved a stock buyback plan on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd were paid a $0.41 dividend. The ex-dividend date of this dividend was 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 yield of 2.75%. Cisco Systems's payout ratio is 71.62%.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction 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 of the company's stock, valued at $2,693,013.45. This represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the sale, the chief executive officer now directly owns 736,120 shares of the company's stock, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,547 shares of company stock valued at $4,275,553 in the last quarter. 0.01% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CSCO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on Cisco Systems from $73.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. DZ Bank raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a report on Thursday, March 6th. Rosenblatt Securities decreased their price objective on shares of Cisco Systems from $80.00 to $63.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Evercore ISI decreased their price target on Cisco Systems from $75.00 to $67.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.05.

Cisco Systems Company 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.