Cisco Systems, Inc. (CSCO) Stake Raised by Peddock Capital Advisors LLC

Peddock Capital Advisors LLC grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,833 shares of the network equipment provider’s stock after purchasing an additional 3,234 shares during the quarter. Peddock Capital Advisors LLC’s holdings in Cisco Systems were worth $1,138,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of CSCO. Ameriprise Financial Inc. raised its stake in shares of Cisco Systems by 23.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock valued at $2,109,614,000 after purchasing an additional 11,972,070 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Cisco Systems by 6,109.5% in the 3rd quarter. Stifel Financial Corp now owns 8,147,775 shares of the network equipment provider’s stock valued at $273,977,000 after purchasing an additional 8,016,561 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Cisco Systems by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock valued at $11,021,378,000 after purchasing an additional 7,411,891 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Cisco Systems by 54.2% in the 2nd quarter. American Century Companies Inc. now owns 14,362,422 shares of the network equipment provider’s stock valued at $449,544,000 after purchasing an additional 5,049,326 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in Cisco Systems by 51.1% during the second quarter. Janus Henderson Group PLC now owns 13,528,059 shares of the network equipment provider’s stock worth $423,475,000 after acquiring an additional 4,577,831 shares during the period. Institutional investors and hedge funds own 75.06% of the company’s stock.

Several equities research analysts recently weighed in on CSCO shares. Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $35.49 price objective on the stock in a research note on Monday, November 13th. Robert W. Baird reiterated a “buy” rating and set a $38.00 price objective on shares of Cisco Systems in a research note on Friday, November 10th. Cowen reiterated a “buy” rating and set a $38.00 price objective on shares of Cisco Systems in a research note on Friday, November 3rd. Oppenheimer reiterated a “buy” rating and set a $36.00 price objective on shares of Cisco Systems in a research note on Tuesday, October 31st. Finally, UBS Group reiterated a “buy” rating and set a $39.00 price objective on shares of Cisco Systems in a research note on Thursday, November 16th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. Cisco Systems presently has a consensus rating of “Buy” and a consensus target price of $43.66.

In related news, SVP Rebecca Jacoby sold 75,021 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the completion of the sale, the senior vice president now directly owns 257,476 shares in the company, valued at $9,892,227.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arun Sarin sold 14,189 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $44.10, for a total transaction of $625,734.90. The disclosure for this sale can be found here. Insiders sold 104,440 shares of company stock valued at $4,086,782 over the last quarter. Insiders own 0.05% of the company’s stock.

Cisco Systems, Inc. (NASDAQ CSCO) opened at $44.00 on Friday. The company has a quick ratio of 2.38, a current ratio of 2.43 and a debt-to-equity ratio of 0.49. The stock has a market cap of $217,520.00, a P/E ratio of -137.50, a PEG ratio of 2.91 and a beta of 1.23. Cisco Systems, Inc. has a 1-year low of $30.36 and a 1-year high of $45.13.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data 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. The business had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.82 billion. Cisco Systems had a negative net margin of 3.00% and a positive return on equity of 17.77%. During the same period last year, the firm posted $0.57 earnings per share. analysts anticipate that Cisco Systems, Inc. will post 2.32 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, April 5th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, April 4th. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 annualized dividend and a dividend yield of 3.00%. Cisco Systems’s dividend payout ratio (DPR) is -362.50%.

Cisco Systems announced that its Board of Directors has authorized a share buyback program on Wednesday, February 14th that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the network equipment provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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

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