Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,328,178 shares of the network equipment provider’s stock after buying an additional 89,297 shares during the period. Cisco Systems comprises approximately 0.8% of Sumitomo Mitsui Trust Holdings Inc.’s investment portfolio, making the stock its 26th biggest position. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.31% of Cisco Systems worth $587,069,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Stonehearth Capital Management LLC purchased a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $102,000. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Cisco Systems in the 2nd quarter valued at approximately $104,000. Manchester Capital Management LLC lifted its position in shares of Cisco Systems by 10.7% in the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after acquiring an additional 350 shares in the last quarter. Goodman Financial Corp purchased a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $115,000. Finally, Ffcm LLC lifted its position in shares of Cisco Systems by 2,025.0% in the 2nd quarter. Ffcm LLC now owns 3,740 shares of the network equipment provider’s stock valued at $117,000 after acquiring an additional 3,564 shares in the last quarter. Hedge funds and other institutional investors own 77.55% of the company’s stock.
NASDAQ:CSCO opened at $44.09 on Friday. Cisco Systems, Inc. has a 1 year low of $30.36 and a 1 year high of $46.16. The company has a current ratio of 2.43, a quick ratio of 2.38 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $214,668.61, a P/E ratio of 20.51, a PEG ratio of 3.18 and a beta of 1.14.
The company also recently announced 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. The ex-dividend date of this dividend is Wednesday, April 4th. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 dividend on an annualized basis and a yield of 2.99%. Cisco Systems’s dividend payout ratio (DPR) is presently 61.40%.
Cisco Systems declared that its board has initiated a share repurchase plan on Wednesday, February 14th that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
A number of equities research analysts have issued reports on the stock. Piper Jaffray reiterated an “overweight” rating and issued a $49.00 target price (up previously from $48.00) on shares of Cisco Systems in a research report on Wednesday. Vetr downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $46.32 target price for the company. in a research report on Wednesday. Goldman Sachs upgraded shares of Cisco Systems from a “buy” rating to a “conviction-buy” rating in a research report on Friday, March 23rd. Citigroup increased their target price on shares of Cisco Systems from $46.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, March 16th. Finally, Morgan Stanley increased their target price on shares of Cisco Systems from $46.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. Eleven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. Cisco Systems presently has an average rating of “Buy” and a consensus price target of $44.26.
In related news, Director M Michele Burns sold 12,126 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $45.37, for a total value of $550,156.62. Following the transaction, the director now directly owns 74,479 shares in the company, valued at approximately $3,379,112.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Goeckeler sold 20,671 shares of the firm’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $45.50, for a total transaction of $940,530.50. The disclosure for this sale can be found here. Insiders sold a total of 46,986 shares of company stock worth $2,116,422 over the last quarter. 0.05% of the stock is currently owned by company insiders.
Cisco Systems Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
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