Resources Investment Advisors Inc. raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 51.2% during the 4th quarter, Holdings Channel reports. The firm owned 13,587 shares of the network equipment provider’s stock after acquiring an additional 4,598 shares during the period. Resources Investment Advisors Inc.’s holdings in Cisco Systems were worth $520,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in the business. Opes Advisors Inc grew its stake in shares of Cisco Systems by 0.6% in the 2nd quarter. Opes Advisors Inc now owns 7,475 shares of the network equipment provider’s stock valued at $236,000 after purchasing an additional 44 shares during the last quarter. Leisure Capital Management boosted its stake in shares of Cisco Systems by 0.6% in the second quarter. Leisure Capital Management now owns 7,454 shares of the network equipment provider’s stock valued at $233,000 after buying an additional 48 shares in the last quarter. GM Advisory Group Inc. boosted its stake in shares of Cisco Systems by 0.3% in the second quarter. GM Advisory Group Inc. now owns 19,548 shares of the network equipment provider’s stock valued at $612,000 after buying an additional 61 shares in the last quarter. Heritage Trust Co boosted its stake in shares of Cisco Systems by 1.2% in the second quarter. Heritage Trust Co now owns 8,381 shares of the network equipment provider’s stock valued at $262,000 after buying an additional 100 shares in the last quarter. Finally, Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. boosted its stake in shares of Cisco Systems by 0.4% in the second quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 30,850 shares of the network equipment provider’s stock valued at $966,000 after buying an additional 125 shares in the last quarter. Institutional investors own 77.56% of the company’s stock.
A number of analysts recently weighed in on CSCO shares. Vetr downgraded Cisco Systems from a “buy” rating to a “hold” rating and set a $45.60 price target on the stock. in a research note on Monday, March 26th. BidaskClub upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 5th. Citigroup lifted their price target on Cisco Systems from $46.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, March 16th. BMO Capital Markets lifted their price target on Cisco Systems from $36.00 to $43.00 and gave the company a “market perform” rating in a research note on Thursday, February 15th. Finally, KeyCorp lifted their price target on Cisco Systems from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. Cisco Systems has an average rating of “Buy” and an average target price of $44.23.
NASDAQ CSCO opened at $40.73 on Friday. Cisco Systems, Inc. has a fifty-two week low of $30.36 and a fifty-two week high of $46.16. The firm has a market capitalization of $201,468.61, a PE ratio of 18.84, a P/E/G ratio of 2.81 and a beta of 1.14. The company has a quick ratio of 2.38, a current ratio of 2.43 and a debt-to-equity ratio of 0.49.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share for the quarter, topping 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 analysts’ expectations of $11.82 billion. During the same period in the previous year, the firm posted $0.57 earnings per share. research analysts predict that Cisco Systems, Inc. will post 2.33 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, April 5th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.24%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, April 4th. Cisco Systems’s payout ratio is 61.40%.
Cisco Systems declared that its board has approved a stock buyback plan on Wednesday, February 14th that allows the company to repurchase $25.00 billion in shares. This repurchase authorization allows the network equipment provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
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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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