Laurel Wealth Advisors LLC raised its position in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 8.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,437 shares of the network equipment provider's stock after purchasing an additional 8,423 shares during the quarter. Cisco Systems makes up approximately 1.1% of Laurel Wealth Advisors LLC's holdings, making the stock its 24th biggest position. Laurel Wealth Advisors LLC's holdings in Cisco Systems were worth $4,975,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CSCO. Great West Life Assurance Co. Can bought a new stake in shares of Cisco Systems during the 3rd quarter worth about $246,529,000. Vanguard Group Inc. boosted its stake in Cisco Systems by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 377,757,324 shares of the network equipment provider's stock valued at $15,110,293,000 after purchasing an additional 5,586,273 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Cisco Systems by 6.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider's stock valued at $2,975,139,000 after purchasing an additional 3,087,294 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in Cisco Systems by 47.4% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 8,848,048 shares of the network equipment provider's stock valued at $493,367,000 after purchasing an additional 2,846,557 shares during the period. Finally, Two Sigma Advisers LP boosted its stake in Cisco Systems by 25.6% during the 3rd quarter. Two Sigma Advisers LP now owns 9,702,400 shares of the network equipment provider's stock valued at $388,096,000 after purchasing an additional 1,977,400 shares during the period. Hedge funds and other institutional investors own 71.10% of the company's stock.
Get Cisco Systems alerts:Cisco Systems Stock Up 1.5 %
Shares of CSCO traded up $0.69 during trading hours on Friday, hitting $47.25. The stock had a trading volume of 19,664,960 shares, compared to its average volume of 17,544,448. Cisco Systems, Inc. has a 1-year low of $38.60 and a 1-year high of $52.56. The firm has a market capitalization of $193.53 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 2.15 and a beta of 1.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.41 and a quick ratio of 1.30. The firm has a 50 day simple moving average of $49.57 and a 200-day simple moving average of $47.84.
Cisco Systems (NASDAQ:CSCO – Get Rating) last announced its quarterly earnings results on Wednesday, February 15th. The network equipment provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.12. Cisco Systems had a net margin of 21.26% and a return on equity of 31.19%. The business had revenue of $13.59 billion for the quarter, compared to analysts' expectations of $13.41 billion. During the same quarter last year, the firm earned $0.77 EPS. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side analysts predict that Cisco Systems, Inc. will post 3.33 EPS for the current fiscal year.
Cisco Systems Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 26th. Shareholders of record on Wednesday, April 5th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, April 4th. This represents a $1.56 annualized dividend and a dividend yield of 3.30%. This is a boost from Cisco Systems's previous quarterly dividend of $0.38. Cisco Systems's dividend payout ratio (DPR) is currently 57.14%.
Analysts Set New Price Targets
Several brokerages recently weighed in on CSCO. Rosenblatt Securities increased their target price on Cisco Systems from $51.00 to $53.00 and gave the company a "neutral" rating in a research note on Thursday, February 16th. JPMorgan Chase & Co. upped their price target on Cisco Systems from $54.00 to $55.00 and gave the company a "neutral" rating in a report on Thursday, February 16th. Raymond James upped their price target on Cisco Systems from $59.00 to $63.00 and gave the company an "outperform" rating in a report on Thursday, February 16th. Deutsche Bank Aktiengesellschaft upped their price target on Cisco Systems from $52.00 to $55.00 and gave the company a "hold" rating in a report on Wednesday, February 22nd. Finally, StockNews.com cut Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Thursday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $56.38.
Insiders Place Their Bets
In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 23,701 shares of Cisco Systems stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $50.90, for a total transaction of $1,206,380.90. Following the transaction, the executive vice president now owns 184,853 shares of the company's stock, valued at approximately $9,409,017.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Charles Robbins sold 20,117 shares of Cisco Systems stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $49.08, for a total value of $987,342.36. Following the sale, the chief executive officer now owns 798,970 shares of the company's stock, valued at approximately $39,213,447.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 23,701 shares of Cisco Systems stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $50.90, for a total transaction of $1,206,380.90. Following the completion of the sale, the executive vice president now directly owns 184,853 shares in the company, valued at approximately $9,409,017.70. The disclosure for this sale can be found here. Insiders have sold a total of 47,568 shares of company stock valued at $2,376,624 in the last 90 days. 0.02% of the stock is currently owned by corporate insiders.
About Cisco Systems
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Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its products include the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.
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