Gofen & Glossberg LLC IL raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 253,585 shares of the network equipment provider’s stock after purchasing an additional 7,990 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in Cisco Systems were worth $9,712,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of Cisco Systems during the 2nd quarter worth about $231,000. Stonehearth Capital Management LLC bought a new position in shares of Cisco Systems during the 4th quarter valued at about $102,000. Mountain Capital Investment Advisors Inc bought a new position in shares of Cisco Systems during the 2nd quarter valued at about $104,000. Manchester Capital Management LLC lifted its holdings in shares of Cisco Systems by 10.7% during the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after purchasing an additional 350 shares in the last quarter. Finally, Ffcm LLC lifted its holdings in shares of Cisco Systems by 2,025.0% during the 2nd quarter. Ffcm LLC now owns 3,740 shares of the network equipment provider’s stock valued at $117,000 after purchasing an additional 3,564 shares in the last quarter. Institutional investors own 76.70% of the company’s stock.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at $45.37 on Friday. Cisco Systems, Inc. has a 12 month low of $30.36 and a 12 month high of $45.89. The stock has a market capitalization of $218,570.80, a P/E ratio of 20.44, a PEG ratio of 3.05 and a beta of 1.10. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.38 and a current ratio of 2.43.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, April 5th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, April 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.91%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s dividend payout ratio is currently -362.50%.
Cisco Systems declared that its board has authorized a share repurchase program on Wednesday, February 14th that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Several research firms have recently weighed in on CSCO. Barclays lifted their price objective on Cisco Systems from $37.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, January 17th. Deutsche Bank reiterated a “buy” rating and set a $45.00 price objective (up previously from $40.00) on shares of Cisco Systems in a report on Thursday, November 16th. Jefferies Group lifted their price objective on Cisco Systems to $40.00 and gave the company a “buy” rating in a report on Thursday, November 16th. Bank of America lifted their price objective on Cisco Systems from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, November 16th. Finally, Nomura upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Monday, February 12th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. Cisco Systems currently has an average rating of “Buy” and an average price target of $44.04.
In related news, Director Roderick C. Mcgeary sold 15,230 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $38.00, for a total transaction of $578,740.00. Following the transaction, the director now directly owns 113,154 shares of the company’s stock, valued at approximately $4,299,852. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director M Michele Burns sold 12,126 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $45.37, for a total value of $550,156.62. Following the transaction, the director now directly owns 74,479 shares in the company, valued at $3,379,112.23. The disclosure for this sale can be found here. In the last quarter, insiders have sold 116,566 shares of company stock worth $4,636,938. Company insiders own 0.05% of the company’s stock.
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Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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