Cascade Investment Advisors Inc. Buys 570 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Cascade Investment Advisors Inc. boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 1.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,579 shares of the network equipment provider’s stock after purchasing an additional 570 shares during the period. Cisco Systems accounts for approximately 1.2% of Cascade Investment Advisors Inc.’s holdings, making the stock its 15th largest holding. Cascade Investment Advisors Inc.’s holdings in Cisco Systems were worth $2,001,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CSCO. Lord Abbett & CO. LLC acquired a new stake in Cisco Systems during the 3rd quarter valued at $38,121,000. Creative Planning increased its holdings in Cisco Systems by 3.6% during the 3rd quarter. Creative Planning now owns 682,954 shares of the network equipment provider’s stock valued at $37,173,000 after purchasing an additional 23,997 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Cisco Systems by 26.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 198,108 shares of the network equipment provider’s stock valued at $10,791,000 after purchasing an additional 40,845 shares in the last quarter. IndexIQ Advisors LLC increased its stake in shares of Cisco Systems by 4.9% in the 3rd quarter. IndexIQ Advisors LLC now owns 67,462 shares of the network equipment provider’s stock valued at $3,672,000 after buying an additional 3,165 shares during the period. Finally, ARGI Investment Services LLC increased its stake in shares of Cisco Systems by 14.0% in the 3rd quarter. ARGI Investment Services LLC now owns 31,265 shares of the network equipment provider’s stock valued at $1,702,000 after buying an additional 3,836 shares during the period. 73.18% of the stock is owned by hedge funds and other institutional investors.

In other Cisco Systems news, COO Maria Martinez sold 992 shares of the firm’s stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $55.24, for a total value of $54,798.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Prat Bhatt sold 3,623 shares of the firm’s stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $56.40, for a total transaction of $204,337.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,605 shares of company stock worth $1,121,147. 0.02% of the stock is owned by insiders.

CSCO traded up $1.27 during trading hours on Friday, hitting $49.56. 18,948,650 shares of the company’s stock were exchanged, compared to its average volume of 19,540,174. Cisco Systems, Inc. has a 1-year low of $47.47 and a 1-year high of $64.29. The stock’s 50-day moving average is $52.97 and its two-hundred day moving average is $55.98. The stock has a market cap of $205.88 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 2.42 and a beta of 0.99. The company has a quick ratio of 1.34, a current ratio of 1.42 and a debt-to-equity ratio of 0.23.

Cisco Systems (NASDAQ:CSCOGet Rating) last announced its earnings results on Wednesday, February 16th. The network equipment provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.73 by $0.04. Cisco Systems had a net margin of 22.94% and a return on equity of 30.95%. The business had revenue of $12.72 billion during the quarter, compared to analysts’ expectations of $12.67 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 3.09 EPS for the current year.

Cisco Systems announced that its Board of Directors has approved a share buyback plan on Wednesday, February 16th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 27th. Stockholders of record on Wednesday, April 6th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Tuesday, April 5th. This is a boost from Cisco Systems’s previous quarterly dividend of $0.37. Cisco Systems’s dividend payout ratio (DPR) is currently 54.29%.

CSCO has been the subject of several research reports. StockNews.com initiated coverage on Cisco Systems in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Raymond James lowered their target price on Cisco Systems from $64.00 to $63.00 and set an “outperform” rating for the company in a research note on Thursday, February 17th. Zacks Investment Research raised Cisco Systems from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Monday, January 24th. Barclays lifted their price objective on Cisco Systems from $61.00 to $68.00 in a research note on Thursday, February 17th. Finally, The Goldman Sachs Group cut Cisco Systems from a “buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a research note on Wednesday, January 19th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $62.44.

Cisco Systems Company Profile (Get Rating)

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

Further Reading

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

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