Foresters Investment Management Company Inc. Raises Position in Cisco Systems, Inc. (NASDAQ:CSCO)

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Foresters Investment Management Company Inc. boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,439,475 shares of the network equipment provider’s stock after acquiring an additional 9,600 shares during the period. Cisco Systems accounts for about 1.2% of Foresters Investment Management Company Inc.’s investment portfolio, making the stock its 8th largest holding. Foresters Investment Management Company Inc.’s holdings in Cisco Systems were worth $62,372,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Flippin Bruce & Porter Inc. lifted its position in shares of Cisco Systems by 2.9% during the 3rd quarter. Flippin Bruce & Porter Inc. now owns 312,232 shares of the network equipment provider’s stock worth $15,190,000 after purchasing an additional 8,767 shares during the last quarter. Cedar Wealth Management LLC lifted its position in shares of Cisco Systems by 11.7% during the 3rd quarter. Cedar Wealth Management LLC now owns 17,145 shares of the network equipment provider’s stock worth $834,000 after purchasing an additional 1,795 shares during the last quarter. Keystone Financial Group acquired a new position in shares of Cisco Systems during the 3rd quarter worth about $907,000. Advisor Partners LLC lifted its position in shares of Cisco Systems by 4.4% during the 3rd quarter. Advisor Partners LLC now owns 126,192 shares of the network equipment provider’s stock worth $6,139,000 after purchasing an additional 5,263 shares during the last quarter. Finally, Comgest Global Investors S.A.S. lifted its position in shares of Cisco Systems by 149.5% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 330,800 shares of the network equipment provider’s stock worth $16,093,000 after purchasing an additional 198,200 shares during the last quarter. 74.60% of the stock is owned by institutional investors.

In other news, EVP Mark D. Chandler sold 1,379 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $55.94, for a total value of $77,141.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $53.56, for a total value of $3,749,200.00. Following the completion of the sale, the chief financial officer now owns 349,122 shares in the company, valued at $18,698,974.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,129 shares of company stock worth $4,035,554. Corporate insiders own 0.03% of the company’s stock.

Several research firms recently weighed in on CSCO. BidaskClub cut Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Tuesday, May 21st. William Blair restated an “outperform” rating on shares of Cisco Systems in a research note on Thursday, May 16th. Morgan Stanley boosted their price target on Cisco Systems from $49.00 to $51.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. Finally, Piper Jaffray Companies boosted their price target on Cisco Systems from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. Seven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $55.92.

CSCO stock opened at $55.86 on Thursday. Cisco Systems, Inc. has a 1-year low of $40.25 and a 1-year high of $57.56. The company has a market capitalization of $244.47 billion, a PE ratio of 21.07, a P/E/G ratio of 2.92 and a beta of 1.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.64 and a current ratio of 1.69.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.01. Cisco Systems had a return on equity of 29.88% and a net margin of 25.76%. The company had revenue of $12.96 billion for the quarter, compared to analyst estimates of $12.89 billion. During the same period in the prior year, the company posted $0.66 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. Analysts forecast that Cisco Systems, Inc. will post 2.8 earnings per share for the current year.

Cisco Systems announced that its board has authorized a stock repurchase plan on Wednesday, February 13th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.40 annualized dividend and a dividend yield of 2.51%. Cisco Systems’s dividend payout ratio is currently 59.83%.

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Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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

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