Lenox Wealth Advisors Inc. raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 62,546.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,144 shares of the network equipment provider’s stock after acquiring an additional 8,131 shares during the period. Cisco Systems comprises about 0.1% of Lenox Wealth Advisors Inc.’s investment portfolio, making the stock its 24th biggest position. Lenox Wealth Advisors Inc.’s holdings in Cisco Systems were worth $312,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pzena Investment Management LLC raised its stake in shares of Cisco Systems by 0.4% during the 3rd quarter. Pzena Investment Management LLC now owns 2,517,046 shares of the network equipment provider’s stock valued at $84,648,000 after buying an additional 10,265 shares during the last quarter. Forward Management LLC purchased a new position in shares of Cisco Systems during the 3rd quarter valued at about $869,000. Mitsubishi UFJ Asset Management UK Ltd. raised its stake in shares of Cisco Systems by 320.0% during the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 126,000 shares of the network equipment provider’s stock valued at $4,825,000 after buying an additional 96,000 shares during the last quarter. Troy Asset Management Ltd raised its stake in shares of Cisco Systems by 15.0% during the 3rd quarter. Troy Asset Management Ltd now owns 117,250 shares of the network equipment provider’s stock valued at $3,943,000 after buying an additional 15,250 shares during the last quarter. Finally, Spectrum Management Group Inc. increased its stake in shares of Cisco Systems by 4.4% in the 3rd quarter. Spectrum Management Group Inc. now owns 76,045 shares of the network equipment provider’s stock valued at $2,557,000 after purchasing an additional 3,182 shares in the last quarter. Institutional investors and hedge funds own 77.56% of the company’s stock.
In related news, Director Arun Sarin sold 14,189 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $44.10, for a total value of $625,734.90. The transaction 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 company’s stock in a transaction that occurred on 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 transaction, 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. Over the last 90 days, insiders have sold 46,986 shares of company stock worth $2,116,422. Insiders own 0.05% of the company’s stock.
Shares of Cisco Systems stock opened at $42.89 on Friday. The company has a market cap of $206,623.34, a PE ratio of 19.32, a P/E/G ratio of 2.88 and a beta of 1.10. Cisco Systems, Inc. has a 1-year low of $30.36 and a 1-year high of $46.16. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.38 and a current ratio of 2.43.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.04. The business had revenue of $11.89 billion for 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 period in the previous year, the firm posted $0.57 EPS. analysts expect that Cisco Systems, Inc. will post 2.33 earnings per share for the current fiscal year.
Cisco Systems declared that its board has approved a share repurchase plan on Wednesday, February 14th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, April 5th will be issued a dividend of $0.33 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Wednesday, April 4th. Cisco Systems’s payout ratio is currently 53.95%.
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About Cisco Systems
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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