Lido Advisors LLC grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 55.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,884 shares of the network equipment provider’s stock after acquiring an additional 11,414 shares during the quarter. Lido Advisors LLC’s holdings in Cisco Systems were worth $1,088,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Richard Bernstein Advisors LLC boosted its position in Cisco Systems by 21.2% in the second quarter. Richard Bernstein Advisors LLC now owns 269,441 shares of the network equipment provider’s stock valued at $8,434,000 after buying an additional 47,211 shares during the last quarter. Pzena Investment Management LLC boosted its position in Cisco Systems by 0.4% in 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 purchased a new stake in Cisco Systems in the third quarter valued at approximately $869,000. Aviva PLC boosted its position in Cisco Systems by 6.5% in the second quarter. Aviva PLC now owns 4,769,809 shares of the network equipment provider’s stock valued at $149,343,000 after buying an additional 289,899 shares during the last quarter. Finally, Callahan Advisors LLC boosted its position in Cisco Systems by 0.3% in the second quarter. Callahan Advisors LLC now owns 256,794 shares of the network equipment provider’s stock valued at $8,038,000 after buying an additional 651 shares during the last quarter. Hedge funds and other institutional investors own 75.06% of the company’s stock.
In related news, Director Roderick C. Mcgeary sold 15,230 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $38.00, for a total value of $578,740.00. Following the completion of the transaction, the director now directly owns 113,154 shares of the company’s stock, valued at approximately $4,299,852. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Rebecca Jacoby sold 75,021 shares of the stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $38.42, for a total value of $2,882,306.82. Following the completion of the transaction, the senior vice president now directly owns 257,476 shares of the company’s stock, valued at $9,892,227.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,440 shares of company stock valued at $4,086,782. 0.05% of the stock is owned by corporate insiders.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.82 billion. During the same period in the prior year, the company earned $0.57 EPS. equities analysts predict that Cisco Systems, Inc. will post 2.32 earnings per share for the current year.
Cisco Systems declared that its board has approved a stock buyback plan on Wednesday, February 14th that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the network equipment provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, April 5th will be paid a $0.33 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Wednesday, April 4th. Cisco Systems’s dividend payout ratio is currently -362.50%.
A number of equities research analysts recently commented on the company. Berenberg Bank reiterated a “neutral” rating and issued a $40.00 target price on shares of Cisco Systems in a research report on Thursday, February 15th. William Blair reiterated an “outperform” rating on shares of Cisco Systems in a research report on Thursday, February 15th. Stifel Nicolaus reiterated a “hold” rating and issued a $46.00 target price (up previously from $40.00) on shares of Cisco Systems in a research report on Thursday, February 15th. Argus reiterated a “buy” rating and issued a $50.00 target price (up previously from $44.00) on shares of Cisco Systems in a research report on Friday, February 16th. Finally, MKM Partners upped their target price on Cisco Systems to $48.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $43.66.
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Cisco Systems Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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