Woodline Partners LP raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 210.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 879,654 shares of the network equipment provider's stock after purchasing an additional 596,676 shares during the period. Woodline Partners LP's holdings in Cisco Systems were worth $52,076,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Zurich Insurance Group Ltd FI boosted its holdings in Cisco Systems by 1,189.1% in the 4th quarter. Zurich Insurance Group Ltd FI now owns 1,028,714 shares of the network equipment provider's stock valued at $60,900,000 after purchasing an additional 948,914 shares during the period. iSAM Funds UK Ltd bought a new stake in Cisco Systems in the 4th quarter valued at about $1,521,000. Victrix Investment Advisors bought a new stake in Cisco Systems in the 4th quarter valued at about $3,660,000. Vident Advisory LLC lifted its holdings in shares of Cisco Systems by 41.3% during the 4th quarter. Vident Advisory LLC now owns 890,130 shares of the network equipment provider's stock worth $52,697,000 after acquiring an additional 260,162 shares during the period. Finally, Sovereign s Capital Management LLC bought a new stake in shares of Cisco Systems during the 4th quarter worth approximately $2,117,000. Institutional investors own 73.33% of the company's stock.
Cisco Systems Price Performance
CSCO stock opened at $63.92 on Tuesday. The company has a fifty day moving average price of $58.82 and a 200-day moving average price of $59.78. The company has a market capitalization of $254.29 billion, a P/E ratio of 27.91, a PEG ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. 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 posted its quarterly earnings data 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 net margin of 16.96% and a return on equity of 26.08%. The company had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same period in the prior year, the company posted $0.88 earnings per share. Cisco Systems's revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.
Cisco Systems Announces Dividend
The company 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. 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 presently 66.94%.
Cisco Systems announced that its board has approved a share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on CSCO. Evercore ISI upped their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. StockNews.com raised shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday. Morgan Stanley upped their price target on shares of Cisco Systems from $65.00 to $67.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. DZ Bank raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. Finally, Piper Sandler increased their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Cisco Systems has an average rating of "Moderate Buy" and a consensus target price of $68.00.
Check Out Our Latest Analysis on CSCO
Insider Transactions at Cisco Systems
In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the sale, the senior vice president now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 11,808 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $64.37, for a total transaction of $760,080.96. Following the completion of the sale, the executive vice president now owns 200,191 shares of the company's stock, valued at $12,886,294.67. The trade was a 5.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,635 shares of company stock worth $931,901 over the last three months. 0.01% of the stock is owned by company insiders.
Cisco Systems Company 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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