Integrated Advisors Network LLC decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 7.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 59,697 shares of the network equipment provider's stock after selling 4,735 shares during the quarter. Integrated Advisors Network LLC's holdings in Cisco Systems were worth $3,534,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CSCO. Cypress Asset Management Inc. TX acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $456,000. Ameriflex Group Inc. bought a new stake in Cisco Systems in the 4th quarter valued at about $531,000. United Advisor Group LLC increased its stake in Cisco Systems by 9.6% during the 4th quarter. United Advisor Group LLC now owns 10,877 shares of the network equipment provider's stock worth $644,000 after acquiring an additional 951 shares during the period. American Trust lifted its position in Cisco Systems by 19.0% during the fourth quarter. American Trust now owns 6,764 shares of the network equipment provider's stock worth $400,000 after purchasing an additional 1,080 shares during the period. Finally, Ascent Group LLC boosted its position in shares of Cisco Systems by 16.0% during the 4th quarter. Ascent Group LLC now owns 54,077 shares of the network equipment provider's stock worth $3,201,000 after acquiring an additional 7,464 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.
Cisco Systems Stock Performance
CSCO stock traded down $0.24 during midday trading on Friday, reaching $62.81. 25,829,006 shares of the company's stock traded hands, compared to its average volume of 20,244,721. 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 52-week low of $44.50 and a 52-week high of $66.50. The stock has a market cap of $248.73 billion, a P/E ratio of 27.43, a PEG ratio of 4.16 and a beta of 0.89. The stock's 50-day moving average is $59.30 and its 200 day moving average is $60.11.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Cisco Systems's revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business posted $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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders 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 dividend yield of 2.61%. Cisco Systems's payout ratio is currently 66.94%.
Cisco Systems announced that its board has authorized a share repurchase program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.
Wall Street Analysts Forecast Growth
CSCO has been the topic of a number of research analyst reports. New Street Research restated a "neutral" rating and issued a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Citigroup lifted their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Rosenblatt Securities increased their price objective on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.00.
Read Our Latest Research Report on Cisco Systems
Insider Activity at Cisco Systems
In related news, EVP Oliver Tuszik sold 15,000 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the sale, the executive vice president now owns 131,676 shares in the company, valued at approximately $8,365,376.28. The trade was a 10.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. The trade was a 1.07% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,616 shares of company stock worth $2,640,095. 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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