Cisco Systems, Inc. (NASDAQ:CSCO) Stock Holdings Increased by Nuveen Asset Management LLC

Nuveen Asset Management LLC boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 19.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,496,389 shares of the network equipment provider's stock after buying an additional 2,483,776 shares during the period. Nuveen Asset Management LLC owned 0.39% of Cisco Systems worth $917,386,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Mainstream Capital Management LLC purchased a new position in shares of Cisco Systems in the 4th quarter worth about $132,000. Proficio Capital Partners LLC raised its holdings in shares of Cisco Systems by 76.4% in the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock worth $1,003,000 after purchasing an additional 7,338 shares during the period. CENTRAL TRUST Co raised its holdings in shares of Cisco Systems by 4.8% in the 4th quarter. CENTRAL TRUST Co now owns 112,101 shares of the network equipment provider's stock worth $6,636,000 after purchasing an additional 5,123 shares during the period. Requisite Capital Management LLC purchased a new stake in shares of Cisco Systems during the 4th quarter valued at about $1,670,000. Finally, Stonegate Investment Group LLC raised its holdings in shares of Cisco Systems by 0.8% during the 4th quarter. Stonegate Investment Group LLC now owns 1,539,557 shares of the network equipment provider's stock valued at $91,142,000 after buying an additional 11,506 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

Shares of CSCO traded down $0.64 during mid-day trading on Friday, hitting $63.62. The stock had a trading volume of 30,263,445 shares, compared to its average volume of 20,420,202. The company has a market cap of $253.10 billion, a PE ratio of 27.78, a PEG ratio of 4.16 and a beta of 0.89. The company's fifty day simple moving average is $58.75 and its two-hundred day simple moving average is $59.66. 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, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.05. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The business had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the previous year, the firm posted $0.88 EPS. On average, equities analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.58%. Cisco Systems's dividend payout ratio is currently 71.62%.

Cisco Systems announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CSCO shares. Rosenblatt Securities raised their target price on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $72.00 to $75.00 in a report on Thursday. StockNews.com upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday. Evercore ISI raised their target price on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday. Finally, DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Cisco Systems presently has an average rating of "Moderate Buy" and an average price target of $67.47.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the sale, the executive vice president now owns 191,184 shares of the company's stock, valued at $11,604,868.80. The trade was a 1.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems 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 sale, the senior vice president now directly owns 44,155 shares in the company, valued at $2,693,013.45. The trade was a 1.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,635 shares of company stock worth $931,901 in the last 90 days. 0.01% of the stock is currently owned by company 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.