Lorne Steinberg Wealth Management Inc. Increases Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Lorne Steinberg Wealth Management Inc. boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,352 shares of the network equipment provider’s stock after acquiring an additional 629 shares during the quarter. Cisco Systems accounts for approximately 1.9% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 24th largest holding. Lorne Steinberg Wealth Management Inc.’s holdings in Cisco Systems were worth $5,727,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Cisco Systems by 3.2% during the third quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock valued at $3,069,815,000 after buying an additional 1,790,717 shares during the last quarter. Northern Trust Corp grew its stake in shares of Cisco Systems by 3.8% during the third quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock valued at $2,717,537,000 after buying an additional 1,847,682 shares during the last quarter. Invesco Ltd. grew its stake in shares of Cisco Systems by 3.7% during the third quarter. Invesco Ltd. now owns 33,536,256 shares of the network equipment provider’s stock valued at $1,802,909,000 after buying an additional 1,181,327 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Cisco Systems by 25.0% during the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock valued at $947,262,000 after buying an additional 3,753,165 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Cisco Systems by 3.7% during the third quarter. AQR Capital Management LLC now owns 11,376,937 shares of the network equipment provider’s stock worth $611,624,000 after purchasing an additional 405,699 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 0.5 %

Shares of CSCO stock traded up $0.24 during trading hours on Tuesday, hitting $48.38. 8,294,240 shares of the company’s stock traded hands, compared to its average volume of 19,371,064. The stock’s fifty day simple moving average is $49.03 and its two-hundred day simple moving average is $50.17. Cisco Systems, Inc. has a 12-month low of $45.56 and a 12-month high of $58.19. The stock has a market cap of $195.90 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 2.77 and a beta of 0.87. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. The company had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 earnings per share. On average, analysts expect that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, April 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.31%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio (DPR) is 48.63%.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,441 shares of company stock valued at $972,080. Company insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their target price for the stock from $55.00 to $60.00 in a report on Monday, April 15th. Melius lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. JPMorgan Chase & Co. assumed coverage on shares of Cisco Systems in a report on Monday. They set a “neutral” rating and a $53.00 target price for the company. Citigroup assumed coverage on shares of Cisco Systems in a report on Friday, April 12th. They set a “neutral” rating and a $52.00 target price for the company. Finally, StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $55.53.

Cisco Systems 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.