E&G Advisors LP lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.0% in the fourth quarter, Holdings Channel reports. The fund owned 23,435 shares of the network equipment provider’s stock after selling 1,500 shares during the quarter. E&G Advisors LP’s holdings in Cisco Systems were worth $898,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Richard Bernstein Advisors LLC raised its holdings in Cisco Systems by 21.2% in the 2nd 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 raised its holdings in Cisco Systems by 0.4% in the 3rd 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 bought a new position in Cisco Systems in the 3rd quarter valued at approximately $869,000. Aviva PLC raised its holdings in Cisco Systems by 6.5% in the 2nd 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, Troy Asset Management Ltd raised its holdings in Cisco Systems by 15.0% in the 3rd quarter. Troy Asset Management Ltd now owns 117,250 shares of the network equipment provider’s stock valued at $3,943,000 after buying an additional 15,250 shares during the last quarter. 77.65% of the stock is owned by hedge funds and other institutional investors.
In related news, Director M Michele Burns sold 12,126 shares of Cisco Systems 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 completion of the sale, the director now owns 74,479 shares of the company’s stock, valued at approximately $3,379,112.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Roderick C. Mcgeary sold 15,230 shares of Cisco Systems stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $38.00, for a total transaction of $578,740.00. Following the completion of the sale, the director now directly owns 113,154 shares of the company’s stock, valued at approximately $4,299,852. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 116,566 shares of company stock valued at $4,636,938. Insiders own 0.05% of the company’s stock.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. The company had revenue of $11.89 billion during the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $0.57 EPS. research analysts expect that Cisco Systems, Inc. will post 2.32 earnings per share for the current year.
Cisco Systems announced that its board has initiated a stock repurchase plan on Wednesday, February 14th that allows the company to repurchase $25.00 billion in shares. This repurchase authorization allows the network equipment provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
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 given a dividend of $0.33 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, April 4th. This represents a $1.32 annualized dividend and a dividend yield of 2.90%. Cisco Systems’s dividend payout ratio (DPR) is -362.50%.
A number of research analysts recently issued reports on the stock. Royal Bank of Canada reiterated a “buy” rating and issued a $44.00 price objective on shares of Cisco Systems in a report on Monday, February 12th. Piper Jaffray Companies reissued an “overweight” rating and set a $44.00 target price on shares of Cisco Systems in a research report on Wednesday, January 10th. Vetr raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $45.11 target price for the company in a research report on Thursday, February 22nd. William Blair reissued an “outperform” rating on shares of Cisco Systems in a research report on Thursday, February 15th. Finally, BMO Capital Markets increased their target price on shares of Cisco Systems from $36.00 to $43.00 and gave the company a “market perform” rating in a research report on Thursday, February 15th. Ten equities research 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 company’s stock. Cisco Systems currently has an average rating of “Buy” and a consensus price target of $44.04.
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).
Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO).
Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.