SPC Financial Inc. trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 51,424 shares of the network equipment provider’s stock after selling 5,459 shares during the quarter. SPC Financial Inc.’s holdings in Cisco Systems were worth $1,970,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of CSCO. Stonehearth Capital Management LLC bought a new stake in Cisco Systems in the fourth quarter valued at $102,000. Mountain Capital Investment Advisors Inc bought a new stake in Cisco Systems in the second quarter valued at $104,000. Manchester Capital Management LLC lifted its stake in Cisco Systems by 10.7% in the second quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after buying an additional 350 shares during the last quarter. Ffcm LLC lifted its stake in Cisco Systems by 2,025.0% in the second quarter. Ffcm LLC now owns 3,740 shares of the network equipment provider’s stock valued at $117,000 after buying an additional 3,564 shares during the last quarter. Finally, Archford Capital Strategies LLC lifted its stake in Cisco Systems by 35.7% in the second quarter. Archford Capital Strategies LLC now owns 9,513 shares of the network equipment provider’s stock valued at $126,000 after buying an additional 2,503 shares during the last quarter. Institutional investors own 77.65% of the company’s stock.
CSCO has been the topic of a number of recent research reports. Vetr upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $35.49 target price on the stock in a research note on Monday, November 13th. Wells Fargo & Co reiterated an “outperform” rating and issued a $42.00 target price on shares of Cisco Systems in a research note on Tuesday, November 14th. Royal Bank of Canada reiterated a “buy” rating and issued a $36.00 target price on shares of Cisco Systems in a research note on Wednesday, November 15th. Barclays raised their target price on Cisco Systems from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, November 16th. Finally, Citigroup restated a “buy” rating and set a $40.00 price objective on shares of Cisco Systems in a research note on Thursday, November 16th. They noted that the move was a valuation call. Ten investment 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. The stock currently has a consensus rating of “Buy” and an average target price of $44.04.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at $45.37 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.43 and a quick ratio of 2.38. Cisco Systems, Inc. has a 1 year low of $30.36 and a 1 year high of $45.89. The company has a market cap of $218,570.80, a PE ratio of 20.44, a price-to-earnings-growth ratio of 3.05 and a beta of 1.10.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. Cisco Systems had a negative net margin of 3.00% and a positive return on equity of 17.77%. The firm had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.82 billion. During the same period in the previous year, the business earned $0.57 earnings per share. equities analysts anticipate that Cisco Systems, Inc. will post 2.32 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Thursday, April 5th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, April 4th. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 annualized dividend and a yield of 2.91%. Cisco Systems’s payout ratio is -362.50%.
Cisco Systems declared that its Board of Directors has authorized a share buyback program on Wednesday, February 14th that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
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Cisco Systems 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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