UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 2,637,006 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,471,275 shares of the network equipment provider's stock after buying an additional 2,637,006 shares during the period. Cisco Systems makes up about 0.5% of UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings, making the stock its 28th biggest holding. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.92% of Cisco Systems worth $2,159,099,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tallon Kerry Patrick acquired a new stake in Cisco Systems during the fourth quarter worth about $603,000. Ameritas Advisory Services LLC boosted its stake in Cisco Systems by 6.9% during the fourth quarter. Ameritas Advisory Services LLC now owns 50,077 shares of the network equipment provider's stock valued at $2,965,000 after buying an additional 3,252 shares in the last quarter. Krilogy Financial LLC boosted its stake in Cisco Systems by 9.4% during the fourth quarter. Krilogy Financial LLC now owns 11,622 shares of the network equipment provider's stock valued at $688,000 after buying an additional 1,001 shares in the last quarter. Grove Bank & Trust boosted its stake in Cisco Systems by 8.8% during the fourth quarter. Grove Bank & Trust now owns 15,024 shares of the network equipment provider's stock valued at $889,000 after buying an additional 1,221 shares in the last quarter. Finally, Ellsworth Advisors LLC boosted its stake in Cisco Systems by 1.7% during the fourth quarter. Ellsworth Advisors LLC now owns 104,744 shares of the network equipment provider's stock valued at $6,201,000 after buying an additional 1,711 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Up 0.3%

CSCO stock traded up $0.16 during mid-day trading on Thursday, hitting $63.36. The stock had a trading volume of 15,624,481 shares, compared to its average volume of 20,313,426. 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 1-year low of $44.50 and a 1-year high of $66.50. The company has a fifty day moving average of $58.95 and a 200 day moving average of $59.83. The stock has a market capitalization of $252.06 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping 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 company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same period in the prior year, the firm posted $0.88 EPS. The business's revenue was up 11.4% compared to the same quarter last year. On average, equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio is 66.94%.

Cisco Systems declared that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have recently commented on CSCO. JPMorgan Chase & Co. upped their target price on Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. The Goldman Sachs Group upped their target price on Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Piper Sandler upped their target price on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Citigroup upped their target price on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, Rosenblatt Securities upped their target price on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.00.

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 11,808 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $64.37, for a total transaction of $760,080.96. Following the transaction, the executive vice president now owns 200,191 shares of the company's stock, valued at approximately $12,886,294.67. This represents a 5.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the transaction, the insider now directly owns 257,162 shares in the company, valued at approximately $16,450,653.14. This represents a 3.73% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,239 shares of company stock valued at $2,181,437. Insiders own 0.01% of the company's stock.

About Cisco Systems

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.