Mizuho Securities USA LLC lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 20.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,506 shares of the network equipment provider’s stock after buying an additional 3,199 shares during the quarter. Mizuho Securities USA LLC’s holdings in Cisco Systems were worth $709,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. grew its position in shares of Cisco Systems by 23.6% during the third quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock worth $2,109,614,000 after purchasing an additional 11,972,070 shares in the last quarter. Stifel Financial Corp grew its position in shares of Cisco Systems by 6,109.5% during the third quarter. Stifel Financial Corp now owns 8,147,775 shares of the network equipment provider’s stock worth $273,977,000 after purchasing an additional 8,016,561 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Cisco Systems by 2.2% during the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after purchasing an additional 7,411,891 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Cisco Systems by 51.1% during the second quarter. Janus Henderson Group PLC now owns 13,528,059 shares of the network equipment provider’s stock worth $423,475,000 after purchasing an additional 4,577,831 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its position in shares of Cisco Systems by 36.1% during the second quarter. Parametric Portfolio Associates LLC now owns 13,415,432 shares of the network equipment provider’s stock worth $419,903,000 after purchasing an additional 3,559,275 shares in the last quarter. 77.56% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at $42.42 on Monday. Cisco Systems, Inc. has a one year low of $30.36 and a one year high of $46.16. The company has a current ratio of 2.43, a quick ratio of 2.38 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $204,359.11, a P/E ratio of -132.56, a P/E/G ratio of 2.84 and a beta of 1.10.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, April 5th will be paid a dividend of $0.33 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Wednesday, April 4th. Cisco Systems’s dividend payout ratio (DPR) is currently -362.50%.
Cisco Systems announced that its Board of Directors has initiated a share buyback program on Wednesday, February 14th that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the network equipment provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
Several analysts recently issued reports on CSCO shares. BidaskClub upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 5th. Citigroup increased their target price on Cisco Systems from $46.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, March 16th. Vetr upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $44.13 target price for the company in a research report on Monday, February 5th. KeyCorp increased their target price on Cisco Systems from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Finally, BMO Capital Markets raised their price target on Cisco Systems from $36.00 to $43.00 and gave the company a “market perform” rating in a report on Thursday, February 15th. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $44.25.
In related news, Director Arun Sarin sold 14,189 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $44.10, for a total transaction of $625,734.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director M Michele Burns sold 12,126 shares of the firm’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 sale, the director now directly owns 74,479 shares of the company’s stock, valued at $3,379,112.23. The disclosure for this sale can be found here. Insiders have sold a total of 46,986 shares of company stock valued at $2,116,422 over the last three months. 0.05% of the stock is owned by corporate insiders.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
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