BOKF NA reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 545,755 shares of the network equipment provider's stock after selling 15,015 shares during the period. BOKF NA's holdings in Cisco Systems were worth $32,058,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new position in Cisco Systems in the 4th quarter worth $132,000. Proficio Capital Partners LLC grew its position in shares of Cisco Systems by 76.4% during the fourth 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 in the last quarter. Nordea Investment Management AB raised its stake in Cisco Systems by 1.2% during the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider's stock valued at $1,107,930,000 after purchasing an additional 216,632 shares during the period. Diversified Trust Co lifted its holdings in Cisco Systems by 48.9% in the 4th quarter. Diversified Trust Co now owns 77,253 shares of the network equipment provider's stock worth $4,573,000 after purchasing an additional 25,368 shares in the last quarter. Finally, CENTRAL TRUST Co boosted its stake in 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. 73.33% of the stock is currently owned by institutional investors.
Cisco Systems Trading Up 0.1 %
Cisco Systems stock traded up $0.06 during mid-day trading on Friday, hitting $59.77. The company's stock had a trading volume of 17,480,737 shares, compared to its average volume of 20,300,975. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The stock has a market cap of $237.78 billion, a PE ratio of 26.10, a P/E/G ratio of 4.16 and a beta of 0.89. The company has a 50 day moving average of $58.78 and a 200-day moving average of $59.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data 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 net margin of 16.96% and a return on equity of 26.08%. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.
Cisco Systems Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd were given a dividend of $0.41 per share. The ex-dividend date was Thursday, April 3rd. This is a positive change from Cisco Systems's previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 2.74%. Cisco Systems's payout ratio is 71.62%.
Cisco Systems announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the stock. DZ Bank raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. StockNews.com downgraded shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their target price on Cisco Systems from $73.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Rosenblatt Securities cut their price target on Cisco Systems from $80.00 to $63.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Cisco Systems in a report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $65.05.
Check Out Our Latest Stock Analysis on Cisco Systems
Insider Transactions at Cisco Systems
In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total transaction of $46,474.38. Following the sale, the senior vice president now owns 44,155 shares of the company's stock, valued at approximately $2,693,013.45. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value 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. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,547 shares of company stock valued at $4,275,553. 0.01% of the stock is currently owned by corporate insiders.
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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