Andesa Financial Management Inc. purchased a new position in Cisco Systems, Inc. (NASDAQ:CSCO) during the 4th quarter, HoldingsChannel reports. The firm purchased 42,903 shares of the network equipment provider’s stock, valued at approximately $1,860,000. Cisco Systems makes up about 2.2% of Andesa Financial Management Inc.’s holdings, making the stock its 19th biggest position.
Several other institutional investors also recently bought and sold shares of CSCO. Bank of New York Mellon Corp boosted its stake in Cisco Systems by 193,168.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 104,741,949 shares of the network equipment provider’s stock valued at $5,095,693,000 after purchasing an additional 104,687,754 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in Cisco Systems by 1.7% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 33,285,440 shares of the network equipment provider’s stock valued at $1,619,337,000 after purchasing an additional 558,313 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in Cisco Systems by 1.0% during the 3rd quarter. Loomis Sayles & Co. L P now owns 23,312,087 shares of the network equipment provider’s stock valued at $1,134,133,000 after purchasing an additional 230,344 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Cisco Systems by 11.9% during the 3rd quarter. Fisher Asset Management LLC now owns 20,099,819 shares of the network equipment provider’s stock valued at $977,856,000 after purchasing an additional 2,129,952 shares during the last quarter. Finally, Teachers Advisors LLC boosted its stake in Cisco Systems by 3.1% during the 3rd quarter. Teachers Advisors LLC now owns 16,278,554 shares of the network equipment provider’s stock valued at $791,952,000 after purchasing an additional 482,109 shares during the last quarter. Institutional investors own 69.14% of the company’s stock.
In related news, EVP David Goeckeler sold 30,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $52.07, for a total value of $1,562,100.00. Following the transaction, the executive vice president now directly owns 419,439 shares of the company’s stock, valued at approximately $21,840,188.73. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Roderick C. Mcgeary sold 15,000 shares of the firm’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $49.66, for a total value of $744,900.00. Following the completion of the transaction, the director now directly owns 102,898 shares in the company, valued at $5,109,914.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,000 shares of company stock worth $5,926,000. 0.03% of the stock is owned by insiders.
Shares of Cisco Systems stock opened at $56.40 on Friday. Cisco Systems, Inc. has a one year low of $40.25 and a one year high of $57.53. The firm has a market capitalization of $271.71 billion, a P/E ratio of 24.10, a P/E/G ratio of 2.94 and a beta of 1.22. The company has a current ratio of 1.80, a quick ratio of 1.74 and a debt-to-equity ratio of 0.39.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 13th. The network equipment provider reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01. Cisco Systems had a return on equity of 27.58% and a net margin of 25.31%. The company had revenue of $12.45 billion for the quarter, compared to analysts’ expectations of $12.43 billion. During the same period last year, the firm earned $0.63 EPS. Cisco Systems’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, analysts forecast that Cisco Systems, Inc. will post 2.75 earnings per share for the current year.
Cisco Systems declared that its Board of Directors has approved a share buyback program on Wednesday, February 13th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Friday, April 5th will be issued a $0.35 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Thursday, April 4th. Cisco Systems’s dividend payout ratio (DPR) is currently 59.83%.
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Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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