Watch Point Trust Co lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,901 shares of the network equipment provider’s stock after selling 2,975 shares during the quarter. Watch Point Trust Co’s holdings in Cisco Systems were worth $953,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in CSCO. S. R. Schill & Associates increased its stake in Cisco Systems by 87.4% during the 4th quarter. S. R. Schill & Associates now owns 18,606 shares of the network equipment provider’s stock valued at $713,000 after purchasing an additional 8,680 shares in the last quarter. Calton & Associates Inc. bought a new stake in Cisco Systems during the 4th quarter valued at $982,000. MUFG Securities EMEA plc increased its stake in Cisco Systems by 11.1% during the 4th quarter. MUFG Securities EMEA plc now owns 500,000 shares of the network equipment provider’s stock valued at $19,150,000 after purchasing an additional 50,000 shares in the last quarter. Claraphi Advisory Network LLC bought a new stake in Cisco Systems during the 4th quarter valued at $248,000. Finally, Quadrant Private Wealth Management LLC bought a new stake in Cisco Systems during the 4th quarter valued at $351,000. Institutional investors own 77.55% of the company’s stock.
In related news, EVP David Goeckeler sold 20,671 shares of the business’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $45.50, for a total value of $940,530.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director M Michele Burns sold 12,126 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $45.37, for a total value of $550,156.62. Following the completion of the sale, the director now owns 74,479 shares in the company, valued at $3,379,112.23. The disclosure for this sale can be found here. Insiders sold a total of 46,986 shares of company stock worth $2,116,422 over the last 90 days. 0.05% of the stock is currently owned by company insiders.
A number of analysts have commented on the stock. Vetr lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $46.32 price target for the company. in a research note on Wednesday. Piper Jaffray restated an “overweight” rating and set a $49.00 price target (up previously from $48.00) on shares of Cisco Systems in a research note on Wednesday. Royal Bank of Canada restated a “buy” rating and set a $44.00 price target on shares of Cisco Systems in a research note on Monday, February 12th. BMO Capital Markets boosted their price target on shares of Cisco Systems from $36.00 to $43.00 and gave the company a “market perform” rating in a research note on Thursday, February 15th. Finally, Jefferies Group restated a “buy” rating and set a $48.00 price target on shares of Cisco Systems in a research note on Thursday, February 15th. Eleven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Cisco Systems has an average rating of “Buy” and an average target price of $44.26.
Shares of NASDAQ:CSCO opened at $44.63 on Thursday. The company has a current ratio of 2.43, a quick ratio of 2.38 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $214,813.13, a P/E ratio of 20.09, a P/E/G ratio of 2.99 and a beta of 1.14. Cisco Systems, Inc. has a fifty-two week low of $30.36 and a fifty-two week high of $46.16.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.04. Cisco Systems had a positive return on equity of 17.77% and a negative net margin of 3.00%. The business had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.82 billion. During the same period in the previous year, the business posted $0.57 EPS. analysts expect that Cisco Systems, Inc. will post 2.33 EPS for the current year.
Cisco Systems announced that its Board of Directors has initiated a share buyback plan on Wednesday, February 14th that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed 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 boost from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Wednesday, April 4th. Cisco Systems’s payout ratio is currently 61.40%.
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Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
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