Redwood Investment Management LLC lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 49.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,535 shares of the network equipment provider's stock after acquiring an additional 19,822 shares during the quarter. Redwood Investment Management LLC's holdings in Cisco Systems were worth $3,524,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in CSCO. FPC Investment Advisory Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $26,000. Navigoe LLC acquired a new stake in Cisco Systems in the fourth quarter valued at $26,000. Runnymede Capital Advisors Inc. purchased a new stake in shares of Cisco Systems during the 4th quarter worth $30,000. Campbell Capital Management Inc. acquired a new position in shares of Cisco Systems during the 4th quarter worth $31,000. Finally, Synergy Investment Management LLC purchased a new position in shares of Cisco Systems in the 4th quarter valued at about $36,000. 73.33% of the stock is owned by hedge funds and other institutional investors.
Cisco Systems Stock Performance
Shares of CSCO stock opened at $61.29 on Thursday. The company has a market cap of $243.83 billion, a P/E ratio of 26.76, a PEG ratio of 4.16 and a beta of 0.89. The business has a 50 day moving average of $58.65 and a two-hundred day moving average of $59.54. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week 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 issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.05. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. During the same period in the prior year, the business earned $0.88 EPS. As a group, analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.
Cisco Systems Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.68%. Cisco Systems's dividend payout ratio is currently 71.62%.
Cisco Systems announced that its board has authorized a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.
Analyst Ratings Changes
A number of research firms have recently issued reports on CSCO. The Goldman Sachs Group lifted their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. DZ Bank raised Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. Evercore ISI lowered their target price on Cisco Systems from $75.00 to $67.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. UBS Group raised their price target on Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Cisco Systems from $73.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. 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 stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of "Moderate Buy" and a consensus target price of $65.05.
Check Out Our Latest Research Report on Cisco Systems
Insiders Place Their Bets
In other news, CFO Richard Scott Herren sold 19,929 shares of the company'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 value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 762 shares of the firm'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 owns 44,155 shares in the company, valued at $2,693,013.45. This represents a 1.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is owned by company insiders.
About Cisco Systems
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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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