Mackenzie Financial Corp Acquires 85,545 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Mackenzie Financial Corp increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,734,235 shares of the network equipment provider’s stock after buying an additional 85,545 shares during the period. Mackenzie Financial Corp’s holdings in Cisco Systems were worth $87,614,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Kathleen S. Wright Associates Inc. acquired a new position in Cisco Systems in the third quarter valued at approximately $27,000. Valued Wealth Advisors LLC bought a new stake in Cisco Systems in the fourth quarter valued at about $32,000. Fortis Capital Advisors LLC acquired a new position in Cisco Systems in the fourth quarter valued at about $34,000. Morton Brown Family Wealth LLC boosted its holdings in Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after buying an additional 208 shares during the last quarter. Finally, Hibernia Wealth Partners LLC bought a new stake in shares of Cisco Systems in the 3rd quarter valued at about $42,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

CSCO stock opened at $48.37 on Tuesday. The company has a market capitalization of $195.86 billion, a P/E ratio of 14.66, a price-to-earnings-growth ratio of 2.78 and a beta of 0.87. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19. The business has a 50-day simple moving average of $49.22 and a two-hundred day simple moving average of $50.37. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The company had revenue of $12.79 billion during the quarter, compared to analyst estimates of $12.71 billion. During the same quarter last year, the business posted $0.76 EPS. Cisco Systems’s quarterly revenue was down 5.9% compared to the same quarter last year. Research analysts expect that Cisco Systems, Inc. will post 3.15 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be issued a $0.40 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Wednesday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 48.63%.

Analysts Set New Price Targets

CSCO has been the topic of a number of research analyst reports. Melius Research reaffirmed a “hold” rating and set a $55.00 price target on shares of Cisco Systems in a research report on Monday, January 8th. Citigroup started coverage on Cisco Systems in a research report on Friday. They set a “neutral” rating and a $52.00 price objective for the company. Barclays lifted their target price on Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. UBS Group raised their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.03.

Insider Activity at Cisco Systems

In other news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the sale, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the sale, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is owned by company insiders.

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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.