Whalerock Point Partners LLC increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 34.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,030 shares of the network equipment provider’s stock after purchasing an additional 14,750 shares during the period. Cisco Systems accounts for 0.7% of Whalerock Point Partners LLC’s portfolio, making the stock its 25th largest holding. Whalerock Point Partners LLC’s holdings in Cisco Systems were worth $2,223,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Opes Advisors Inc boosted its stake in shares of Cisco Systems by 0.6% during the 2nd quarter. Opes Advisors Inc now owns 7,475 shares of the network equipment provider’s stock worth $236,000 after purchasing an additional 44 shares during the period. Leisure Capital Management boosted its stake in shares of Cisco Systems by 0.6% during the 2nd quarter. Leisure Capital Management now owns 7,454 shares of the network equipment provider’s stock worth $233,000 after purchasing an additional 48 shares during the period. GM Advisory Group Inc. boosted its stake in shares of Cisco Systems by 0.3% during the 2nd quarter. GM Advisory Group Inc. now owns 19,548 shares of the network equipment provider’s stock worth $612,000 after purchasing an additional 61 shares during the period. MEMBERS Trust Co boosted its stake in shares of Cisco Systems by 0.7% during the 2nd quarter. MEMBERS Trust Co now owns 12,580 shares of the network equipment provider’s stock worth $394,000 after purchasing an additional 90 shares during the period. Finally, Heritage Trust Co boosted its stake in shares of Cisco Systems by 1.2% during the 2nd quarter. Heritage Trust Co now owns 8,381 shares of the network equipment provider’s stock worth $262,000 after purchasing an additional 100 shares during the period. Institutional investors own 77.53% of the company’s stock.
Shares of Cisco Systems, Inc. (CSCO) traded up $0.18 on Tuesday, hitting $44.45. 13,466,526 shares of the stock traded hands, compared to its average volume of 28,893,928. Cisco Systems, Inc. has a 52-week low of $30.36 and a 52-week high of $46.16. The stock has a market cap of $216,836.48, a PE ratio of -138.91, a PEG ratio of 3.03 and a beta of 1.10. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.43 and a quick ratio of 2.38.
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 dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Wednesday, April 4th. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s payout ratio is -362.50%.
Cisco Systems declared that its board has approved a stock repurchase program on Wednesday, February 14th that permits the company to buyback $25.00 billion in shares. This buyback authorization permits the network equipment provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
CSCO has been the subject of a number of recent analyst reports. Sanford C. Bernstein reaffirmed a “buy” rating and set a $40.00 price target on shares of Cisco Systems in a research note on Monday, November 27th. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Wednesday, January 17th. Robert W. Baird reaffirmed a “buy” rating and set a $41.00 price target on shares of Cisco Systems in a research note on Tuesday, December 5th. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $38.99 to $46.00 in a research note on Friday, January 5th. They noted that the move was a valuation call. Finally, Vetr raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $44.13 price target for the company in a research note on Tuesday, January 30th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $44.25.
In related news, EVP David Goeckeler sold 20,671 shares of the business’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $45.50, for a total transaction of $940,530.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arun Sarin sold 14,189 shares of the business’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. In the last quarter, insiders have sold 46,986 shares of company stock valued at $2,116,422. 0.05% of the stock is currently owned by company insiders.
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Cisco Systems Company 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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