Fort Sheridan Advisors LLC lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 4.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 23,959 shares of the network equipment provider’s stock after selling 1,101 shares during the quarter. Fort Sheridan Advisors LLC’s holdings in Cisco Systems were worth $1,518,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Legacy Private Trust Co. boosted its holdings in Cisco Systems by 0.3% during the 4th quarter. Legacy Private Trust Co. now owns 119,870 shares of the network equipment provider’s stock worth $7,596,000 after acquiring an additional 349 shares during the last quarter. Tobias Financial Advisors Inc. purchased a new position in Cisco Systems during the 4th quarter worth $1,062,000. Formidable Asset Management LLC boosted its holdings in Cisco Systems by 111.8% during the 3rd quarter. Formidable Asset Management LLC now owns 31,331 shares of the network equipment provider’s stock worth $1,705,000 after acquiring an additional 16,538 shares during the last quarter. Ensign Peak Advisors Inc boosted its holdings in Cisco Systems by 2.0% during the 3rd quarter. Ensign Peak Advisors Inc now owns 3,430,765 shares of the network equipment provider’s stock worth $186,736,000 after acquiring an additional 67,518 shares during the last quarter. Finally, Breakline Capital LLC boosted its holdings in Cisco Systems by 366.6% during the 3rd quarter. Breakline Capital LLC now owns 128,528 shares of the network equipment provider’s stock worth $6,996,000 after acquiring an additional 100,980 shares during the last quarter. 73.18% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on CSCO shares. The Goldman Sachs Group downgraded shares of Cisco Systems from a “buy” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a report on Wednesday, January 19th. Cowen lifted their target price on Cisco Systems from $61.00 to $66.00 in a research note on Thursday, February 17th. JPMorgan Chase & Co. lowered their target price on Cisco Systems from $70.00 to $69.00 in a research note on Thursday, January 20th. Barclays lifted their target price on Cisco Systems from $61.00 to $68.00 in a research note on Thursday, February 17th. Finally, StockNews.com began coverage on Cisco Systems in a research note on Thursday, March 31st. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $62.44.
Cisco Systems (NASDAQ:CSCO – Get Rating) last issued its quarterly earnings data on Wednesday, February 16th. The network equipment provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.73 by $0.04. Cisco Systems had a return on equity of 30.95% and a net margin of 22.94%. The company had revenue of $12.72 billion during the quarter, compared to analyst estimates of $12.67 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. Cisco Systems’s revenue was up 6.4% on a year-over-year basis. As a group, analysts forecast that Cisco Systems, Inc. will post 3.09 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 27th. Stockholders of record on Wednesday, April 6th were issued a dividend of $0.38 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, April 5th. This represents a $1.52 annualized dividend and a dividend yield of 3.07%. Cisco Systems’s payout ratio is presently 54.29%.
Cisco Systems announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 16th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to buy up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
In other Cisco Systems news, CEO Charles Robbins sold 15,382 shares of the company’s stock in a transaction that occurred on Thursday, February 24th. The stock was sold at an average price of $53.86, for a total value of $828,474.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Prat Bhatt sold 3,623 shares of the company’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $56.40, for a total value of $204,337.20. The disclosure for this sale can be found here. Insiders have sold 20,605 shares of company stock valued at $1,121,147 in the last three months. 0.02% of the stock is owned by insiders.
Cisco Systems Company Profile (Get Rating)
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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