Oder Investment Management LLC boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 6.6% in the fourth quarter, HoldingsChannel reports. The firm owned 8,545 shares of the network equipment provider’s stock after acquiring an additional 529 shares during the period. Oder Investment Management LLC’s holdings in Cisco Systems were worth $541,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSCO. Econ Financial Services Corp bought a new stake in Cisco Systems in the fourth quarter valued at about $29,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. increased its holdings in shares of Cisco Systems by 63.9% in the third quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 590 shares of the network equipment provider’s stock worth $32,000 after acquiring an additional 230 shares in the last quarter. Sandy Cove Advisors LLC bought a new stake in shares of Cisco Systems in the fourth quarter worth about $33,000. Evolution Advisers Inc. bought a new stake in shares of Cisco Systems in the fourth quarter worth about $33,000. Finally, Cranbrook Wealth Management LLC increased its holdings in shares of Cisco Systems by 41.9% in the third quarter. Cranbrook Wealth Management LLC now owns 627 shares of the network equipment provider’s stock worth $34,000 after acquiring an additional 185 shares in the last quarter. Institutional investors and hedge funds own 73.18% of the company’s stock.
In related news, CEO Charles Robbins sold 15,382 shares of Cisco Systems stock in a transaction that occurred on Thursday, February 24th. The stock was sold at an average price of $53.86, for a total transaction of $828,474.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Prat Bhatt sold 3,623 shares of Cisco Systems stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $56.40, for a total value of $204,337.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,605 shares of company stock valued at $1,121,147. Insiders own 0.02% of the company’s stock.
Cisco Systems (NASDAQ:CSCO – Get Rating) last released its quarterly earnings data on Wednesday, February 16th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. Cisco Systems had a return on equity of 30.95% and a net margin of 22.94%. The company had revenue of $12.72 billion during the quarter, compared to analysts’ expectations of $12.67 billion. During the same period last year, the firm posted $0.71 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. Research analysts anticipate that Cisco Systems, Inc. will post 3.09 EPS for the current year.
Cisco Systems declared that its board has approved a share buyback program on Wednesday, February 16th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 27th. Stockholders of record on Wednesday, April 6th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.00%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, April 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 54.29%.
Several equities research analysts have issued reports on CSCO shares. Cowen increased their price target on Cisco Systems from $61.00 to $66.00 in a report on Thursday, February 17th. StockNews.com started coverage on Cisco Systems in a report on Thursday, March 31st. They issued a “buy” rating for the company. Raymond James decreased their price objective on Cisco Systems from $64.00 to $63.00 and set an “outperform” rating for the company in a report on Thursday, February 17th. The Goldman Sachs Group downgraded Cisco Systems from a “buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a report on Wednesday, January 19th. Finally, Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Monday, January 24th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.
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