iSAM Funds UK Ltd purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 25,692 shares of the network equipment provider's stock, valued at approximately $1,521,000. Cisco Systems makes up approximately 1.1% of iSAM Funds UK Ltd's investment portfolio, making the stock its 7th largest holding.
Other hedge funds also recently made changes to their positions in the company. Mainstream Capital Management LLC bought a new stake in Cisco Systems during the 4th quarter valued at $132,000. Proficio Capital Partners LLC boosted 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 buying an additional 7,338 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in Cisco Systems by 4.8% during the fourth quarter. CENTRAL TRUST Co now owns 112,101 shares of the network equipment provider's stock valued at $6,636,000 after purchasing an additional 5,123 shares during the last quarter. Requisite Capital Management LLC purchased a new stake in Cisco Systems during the fourth quarter valued at about $1,670,000. Finally, Stonegate Investment Group LLC lifted its holdings in Cisco Systems by 0.8% during the fourth quarter. Stonegate Investment Group LLC now owns 1,539,557 shares of the network equipment provider's stock valued at $91,142,000 after purchasing an additional 11,506 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Cisco Systems
In other news, EVP Deborah L. Stahlkopf sold 9,643 shares of Cisco Systems stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.50, for a total transaction of $612,330.50. Following the sale, the executive vice president now directly owns 181,186 shares in the company, valued at approximately $11,505,311. The trade was a 5.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the transaction, the senior vice president now owns 44,155 shares in the company, valued at approximately $2,693,013.45. This trade represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,239 shares of company stock worth $2,181,437 over the last quarter. 0.01% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on CSCO. New Street Research restated a "neutral" rating and issued a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. DZ Bank upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. The Goldman Sachs Group increased their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Rosenblatt Securities increased their price objective on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, Citigroup raised their price target on Cisco Systems from $68.00 to $71.00 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 issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $68.00.
Read Our Latest Report on CSCO
Cisco Systems Trading Down 0.3%
Shares of CSCO stock traded down $0.22 on Wednesday, reaching $63.20. 15,593,181 shares of the stock were exchanged, compared to its average volume of 20,330,618. The stock has a market cap of $251.43 billion, a P/E ratio of 27.60, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average of $58.95 and a two-hundred day moving average of $59.83. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its earnings results 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 company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same period last year, the firm earned $0.88 earnings per share. The company's revenue was up 11.4% on a year-over-year basis. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.
Cisco Systems announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.
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 paid 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 2.59%. Cisco Systems's dividend payout ratio is presently 66.94%.
Cisco Systems Profile
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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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