South Street Advisors LLC raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,545 shares of the network equipment provider’s stock after buying an additional 2,000 shares during the period. South Street Advisors LLC’s holdings in Cisco Systems were worth $1,513,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. State Street Corp boosted its position in shares of Cisco Systems by 0.6% during the 4th quarter. State Street Corp now owns 187,545,264 shares of the network equipment provider’s stock valued at $8,994,671,000 after acquiring an additional 1,132,414 shares in the last quarter. Fisher Asset Management LLC increased its position in Cisco Systems by 2.8% during the third quarter. Fisher Asset Management LLC now owns 30,517,061 shares of the network equipment provider’s stock worth $1,507,848,000 after acquiring an additional 839,300 shares during the period. Massachusetts Financial Services Co. MA increased its position in Cisco Systems by 13.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 21,589,214 shares of the network equipment provider’s stock worth $1,066,724,000 after acquiring an additional 2,496,113 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in Cisco Systems by 1.6% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,887,544 shares of the network equipment provider’s stock worth $851,626,000 after acquiring an additional 288,013 shares during the period. Finally, First Trust Advisors LP increased its position in Cisco Systems by 155.6% during the third quarter. First Trust Advisors LP now owns 17,446,107 shares of the network equipment provider’s stock worth $862,012,000 after acquiring an additional 10,621,798 shares during the period. 72.54% of the stock is owned by institutional investors.
Shares of CSCO traded down $0.38 during mid-day trading on Tuesday, reaching $46.59. The company had a trading volume of 18,485,365 shares, compared to its average volume of 18,616,120. The company’s 50 day simple moving average is $47.90 and its 200 day simple moving average is $47.74. Cisco Systems, Inc. has a 1-year low of $43.40 and a 1-year high of $58.26. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.75 and a current ratio of 1.81. The company has a market capitalization of $199.26 billion, a price-to-earnings ratio of 18.20, a P/E/G ratio of 2.73 and a beta of 1.23.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd will be paid a $0.36 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Thursday, April 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 49.12%.
In other news, CEO Charles Robbins sold 208,084 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $44.83, for a total value of $9,328,405.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Prat Bhatt sold 39,343 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $44.88, for a total transaction of $1,765,713.84. Following the completion of the sale, the chief accounting officer now owns 137,634 shares in the company, valued at $6,177,013.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 365,534 shares of company stock worth $16,428,904. 0.03% of the stock is currently owned by corporate insiders.
CSCO has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Thursday, November 14th. Goldman Sachs Group reissued a “hold” rating and issued a $48.00 target price on shares of Cisco Systems in a report on Thursday, February 13th. Piper Jaffray Companies lowered shares of Cisco Systems from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $55.00 to $51.00 in a report on Monday, November 11th. ValuEngine raised shares of Cisco Systems from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Co reissued a “buy” rating and issued a $58.00 target price (down from $60.00) on shares of Cisco Systems in a report on Thursday, November 14th. Twelve investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $54.41.
About Cisco Systems
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.
See Also: Cost of Goods Sold (COGS)
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