Headinvest LLC Cuts Holdings in Cisco Systems, Inc. (CSCO)

Headinvest LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 130,347 shares of the network equipment provider’s stock after selling 1,972 shares during the quarter. Cisco Systems accounts for about 1.5% of Headinvest LLC’s portfolio, making the stock its 23rd largest position. Headinvest LLC’s holdings in Cisco Systems were worth $4,992,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Cisco Systems by 2.2% in the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock valued at $11,021,378,000 after purchasing an additional 7,411,891 shares during the period. Ameriprise Financial Inc. raised its position in Cisco Systems by 23.6% in the third quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock valued at $2,109,614,000 after purchasing an additional 11,972,070 shares during the period. Dimensional Fund Advisors LP raised its position in Cisco Systems by 6.5% in the third quarter. Dimensional Fund Advisors LP now owns 48,741,535 shares of the network equipment provider’s stock valued at $1,639,089,000 after purchasing an additional 2,987,682 shares during the period. Nordea Investment Management AB raised its position in Cisco Systems by 8.3% in the third quarter. Nordea Investment Management AB now owns 34,013,570 shares of the network equipment provider’s stock valued at $1,143,876,000 after purchasing an additional 2,617,310 shares during the period. Finally, Boston Partners increased its position in shares of Cisco Systems by 1.1% during the third quarter. Boston Partners now owns 30,401,385 shares of the network equipment provider’s stock worth $1,022,399,000 after acquiring an additional 329,474 shares during the last quarter. 77.56% of the stock is currently owned by institutional investors.

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Shares of CSCO stock opened at $41.82 on Friday. 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 52 week low of $30.36 and a 52 week high of $46.16. The company has a market capitalization of $199,348.91, a price-to-earnings ratio of 19.45, a P/E/G ratio of 2.78 and a beta of 1.14.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.04. Cisco Systems had a positive return on equity of 17.77% and a negative net margin of 3.00%. The company had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.82 billion. During the same period in the previous year, the firm posted $0.57 earnings per share. analysts predict that Cisco Systems, Inc. will post 2.33 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Thursday, April 5th will be paid a $0.33 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Wednesday, April 4th. Cisco Systems’s payout ratio is presently 53.95%.

Cisco Systems declared that its Board of Directors has initiated a stock 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. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

CSCO has been the topic of a number of analyst reports. Barclays lifted their target price on Cisco Systems from $37.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 17th. Zacks Investment Research lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Vetr raised Cisco Systems from a “sell” rating to a “hold” rating and set a $38.01 target price on the stock in a research report on Wednesday, December 27th. Argus reaffirmed a “buy” rating and set a $50.00 target price (up from $44.00) on shares of Cisco Systems in a research report on Friday, February 16th. Finally, Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $38.99 to $46.00 in a research report on Friday, January 5th. They noted that the move was a valuation call. Ten investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and three have given a strong buy rating to the stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus price target of $44.23.

In other Cisco Systems news, EVP David Goeckeler sold 20,671 shares of Cisco Systems stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $45.50, for a total value of $940,530.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arun Sarin sold 14,189 shares of Cisco Systems stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $44.10, for a total value of $625,734.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,986 shares of company stock valued at $2,116,422. 0.05% of the stock is currently owned by insiders.

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About Cisco Systems

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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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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