Armis Advisers LLC purchased a new position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 15,114 shares of the network equipment provider's stock, valued at approximately $895,000.
Other large investors have also recently made changes to their positions in the company. FMR LLC raised its holdings in Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after purchasing an additional 13,285,052 shares in the last quarter. Norges Bank purchased a new position in shares of Cisco Systems during the fourth quarter valued at about $3,297,905,000. Northern Trust Corp raised its stake in Cisco Systems by 11.4% in the fourth quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock worth $2,796,505,000 after buying an additional 4,832,813 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Cisco Systems by 7.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider's stock worth $2,159,099,000 after buying an additional 2,637,006 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Cisco Systems by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider's stock valued at $1,741,597,000 after acquiring an additional 681,555 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the company. Piper Sandler raised their target price on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. The Goldman Sachs Group raised their price objective on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. UBS Group lifted their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Finally, New Street Research restated a "neutral" rating and issued a $70.00 price target on shares of Cisco Systems in a research report on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $68.00.
View Our Latest Research Report on Cisco Systems
Insider Buying and Selling at Cisco Systems
In other news, insider Jeetendra I. Patel sold 9,961 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the sale, the insider now owns 257,162 shares in the company, valued at approximately $16,450,653.14. The trade was a 3.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the sale, the executive vice president now directly 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 disclosure for this sale can be found here. Over the last three months, insiders sold 22,431 shares of company stock valued at $1,421,356. Corporate insiders own 0.01% of the company's stock.
Cisco Systems Stock Up 1.0%
NASDAQ:CSCO traded up $0.64 during midday trading on Tuesday, hitting $63.75. 17,422,554 shares of the company were exchanged, compared to its average volume of 20,322,613. The company has a market capitalization of $252.45 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. The company has a current ratio of 0.87, a quick ratio of 0.79 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. The company has a fifty day simple moving average of $59.09 and a 200 day simple moving average of $59.99.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. 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 the consensus estimate of $14.05 billion. During the same period in the prior year, the company earned $0.88 earnings per share. The company's revenue was up 11.4% compared to the same quarter last year. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.
Cisco Systems Announces Dividend
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 paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is 66.94%.
Cisco Systems declared that its board has approved a share repurchase program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to buy 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.
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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