Tredje AP fonden increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 564,021 shares of the network equipment provider’s stock after purchasing an additional 52,079 shares during the period. Cisco Systems accounts for 0.7% of Tredje AP fonden’s investment portfolio, making the stock its 29th largest holding. Tredje AP fonden’s holdings in Cisco Systems were worth $18,968,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Commerzbank Aktiengesellschaft FI raised its position in Cisco Systems by 24.0% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,048,889 shares of the network equipment provider’s stock valued at $35,274,000 after purchasing an additional 202,884 shares during the period. Shufro Rose & Co. LLC raised its position in Cisco Systems by 0.4% during the third quarter. Shufro Rose & Co. LLC now owns 939,506 shares of the network equipment provider’s stock valued at $31,596,000 after purchasing an additional 3,450 shares during the period. Poplar Forest Capital LLC raised its position in Cisco Systems by 288.5% during the third quarter. Poplar Forest Capital LLC now owns 87,935 shares of the network equipment provider’s stock valued at $2,957,000 after purchasing an additional 65,300 shares during the period. Bruderman Asset Management LLC raised its position in Cisco Systems by 24.4% during the third quarter. Bruderman Asset Management LLC now owns 372,952 shares of the network equipment provider’s stock valued at $12,542,000 after purchasing an additional 73,120 shares during the period. Finally, Welch & Forbes LLC raised its position in Cisco Systems by 5.3% during the third quarter. Welch & Forbes LLC now owns 412,611 shares of the network equipment provider’s stock valued at $13,876,000 after purchasing an additional 20,592 shares during the period. Institutional investors own 75.06% of the company’s stock.
A number of brokerages have issued reports on CSCO. Piper Jaffray Companies restated an “overweight” rating and set a $44.00 price objective on shares of Cisco Systems in a research report on Wednesday, January 10th. Vetr downgraded Cisco Systems from a “buy” rating to a “hold” rating and set a $44.13 price objective on the stock. in a research report on Monday. Berenberg Bank restated a “hold” rating and set a $33.00 price objective on shares of Cisco Systems in a research report on Tuesday, October 24th. Jefferies Group restated a “buy” rating and set a $48.00 price objective on shares of Cisco Systems in a research report on Thursday. Finally, Stifel Nicolaus restated a “hold” rating and set a $46.00 price objective (up from $40.00) on shares of Cisco Systems in a research report on Thursday. Twelve investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $43.57.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) opened at $44.33 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.43 and a quick ratio of 2.38. The firm has a market capitalization of $219,150.78, a price-to-earnings ratio of 19.97, a PEG ratio of 3.29 and a beta of 1.23. Cisco Systems, Inc. has a 52-week low of $30.36 and a 52-week high of $45.13.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. The firm had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.82 billion. Cisco Systems had a positive return on equity of 17.77% and a negative net margin of 3.00%. During the same quarter last year, the firm earned $0.57 EPS. research analysts expect that Cisco Systems, Inc. will post 2.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, April 5th will be paid a $0.33 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, April 4th. This represents a $1.32 dividend on an annualized basis and a yield of 2.98%. Cisco Systems’s dividend payout ratio (DPR) is -362.50%.
Cisco Systems declared that its Board of Directors has initiated a share buyback program on Wednesday, February 14th that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the network equipment provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, SVP Karen Walker sold 5,786 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total value of $211,131.14. Following the completion of the transaction, the senior vice president now owns 176,418 shares in the company, valued at approximately $6,437,492.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rebecca Jacoby sold 75,021 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total value of $2,882,306.82. Following the completion of the transaction, the senior vice president now owns 257,476 shares of the company’s stock, valued at approximately $9,892,227.92. The disclosure for this sale can be found here. Insiders sold a total of 348,643 shares of company stock valued at $12,892,271 in the last 90 days. 0.05% of the stock is currently owned by company insiders.
ILLEGAL ACTIVITY NOTICE: This piece was first posted by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are viewing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright legislation. The original version of this piece can be accessed at https://www.thelincolnianonline.com/2018/02/19/cisco-systems-inc-csco-shares-bought-by-tredje-ap-fonden.html.
About Cisco Systems
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO).
Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.