Mondrian Investment Partners LTD bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,776,540 shares of the network equipment provider’s stock, valued at approximately $60,047,000. Cisco Systems makes up approximately 1.7% of Mondrian Investment Partners LTD’s investment portfolio, making the stock its 16th largest position.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. FMR LLC boosted its stake in Cisco Systems by 1.4% in the fourth quarter. FMR LLC now owns 104,252,187 shares of the network equipment provider’s stock worth $3,150,500,000 after buying an additional 1,462,365 shares in the last quarter. Dodge & Cox bought a new stake in Cisco Systems during the fourth quarter worth about $1,950,935,000. Norges Bank bought a new stake in Cisco Systems during the fourth quarter worth about $1,306,395,000. Loomis Sayles & Co. L P raised its position in Cisco Systems by 4.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 39,089,052 shares of the network equipment provider’s stock worth $1,181,271,000 after buying an additional 1,624,597 shares in the last quarter. Finally, Macquarie Group Ltd. raised its position in Cisco Systems by 5.7% in the fourth quarter. Macquarie Group Ltd. now owns 25,418,669 shares of the network equipment provider’s stock worth $768,153,000 after buying an additional 1,365,708 shares in the last quarter. 75.40% of the stock is owned by institutional investors and hedge funds.
Cisco Systems, Inc. (NASDAQ CSCO) traded down 0.53% on Tuesday, hitting $31.67. The stock had a trading volume of 13,765,473 shares. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $34.60. The stock has a market cap of $158.35 billion, a P/E ratio of 16.08 and a beta of 1.24. The company’s 50 day moving average is $31.58 and its 200-day moving average is $32.49.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $11.94 billion for the quarter, compared to analyst estimates of $11.90 billion. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. Cisco Systems’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the company earned $0.57 earnings per share. Analysts forecast that Cisco Systems, Inc. will post $2.38 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were given a $0.29 dividend. The ex-dividend date was Wednesday, July 5th. This represents a $1.16 annualized dividend and a dividend yield of 3.66%. Cisco Systems’s dividend payout ratio (DPR) is presently 58.29%.
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A number of equities analysts recently commented on the stock. Citigroup Inc. set a $36.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a research report on Friday, May 19th. Sanford C. Bernstein set a $38.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a report on Saturday, July 1st. Berenberg Bank set a $33.00 target price on shares of Cisco Systems and gave the company a “hold” rating in a report on Saturday, July 1st. Vetr lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 target price on the stock. in a report on Wednesday, April 26th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $37.00 price target on shares of Cisco Systems in a report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-two have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $35.31.
In other Cisco Systems news, SVP Karen Walker sold 7,802 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total transaction of $244,124.58. Following the completion of the sale, the senior vice president now owns 178,577 shares of the company’s stock, valued at $5,587,674.33. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Rebecca Jacoby sold 92,840 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total value of $2,943,956.40. Following the sale, the senior vice president now directly owns 271,725 shares of the company’s stock, valued at approximately $8,616,399.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 396,179 shares of company stock worth $12,503,407. Company insiders own 0.11% of the company’s stock.
About Cisco Systems
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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