Wedge Capital Management L L P NC purchased a new position in Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,724 shares of the network equipment provider’s stock, valued at approximately $219,000.
A number of other large investors also recently bought and sold shares of CSCO. Pzena Investment Management LLC grew its holdings in shares of Cisco Systems by 0.4% during the third quarter. Pzena Investment Management LLC now owns 2,517,046 shares of the network equipment provider’s stock valued at $84,648,000 after buying an additional 10,265 shares during the last quarter. Forward Management LLC acquired a new position in shares of Cisco Systems during the third quarter valued at about $869,000. Mitsubishi UFJ Asset Management UK Ltd. grew its holdings in shares of Cisco Systems by 320.0% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 126,000 shares of the network equipment provider’s stock valued at $4,825,000 after buying an additional 96,000 shares during the last quarter. Troy Asset Management Ltd grew its holdings in shares of Cisco Systems by 15.0% during the third quarter. Troy Asset Management Ltd now owns 117,250 shares of the network equipment provider’s stock valued at $3,943,000 after buying an additional 15,250 shares during the last quarter. Finally, Spectrum Management Group Inc. grew its holdings in shares of Cisco Systems by 4.4% during the third quarter. Spectrum Management Group Inc. now owns 76,045 shares of the network equipment provider’s stock valued at $2,557,000 after buying an additional 3,182 shares during the last quarter. Institutional investors and hedge funds own 77.57% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Cisco Systems from $46.00 to $52.00 and gave the company a “buy” rating in a report on Friday, March 16th. Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $46.93 price objective for the company in a report on Monday, March 19th. Argus reiterated a “buy” rating and set a $50.00 price objective (up from $44.00) on shares of Cisco Systems in a report on Friday, February 16th. MKM Partners raised their price target on shares of Cisco Systems to $48.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Finally, Oppenheimer reissued an “outperform” rating and set a $50.00 price target (up from $46.00) on shares of Cisco Systems in a research report on Friday, February 16th. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Cisco Systems presently has a consensus rating of “Buy” and a consensus target price of $44.23.
NASDAQ CSCO opened at $40.73 on Monday. Cisco Systems, Inc. has a 12-month low of $30.36 and a 12-month high of $46.16. 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 company has a market capitalization of $196,217.52, a PE ratio of 18.35, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating 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 company had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.82 billion. During the same quarter 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders 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 represents a $1.32 annualized dividend and a dividend yield of 3.24%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s payout ratio is 61.40%.
Cisco Systems declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 14th that permits the company to buyback $25.00 billion in shares. This buyback authorization permits the network equipment provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
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Cisco Systems 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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