Heathbridge Capital Management Ltd. lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 821,600 shares of the network equipment provider’s stock after selling 20,000 shares during the period. Cisco Systems comprises about 6.1% of Heathbridge Capital Management Ltd.’s portfolio, making the stock its 4th biggest position. Heathbridge Capital Management Ltd.’s holdings in Cisco Systems were worth $31,467,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BLB&B Advisors LLC lifted its stake in shares of Cisco Systems by 6.3% in the 4th quarter. BLB&B Advisors LLC now owns 238,148 shares of the network equipment provider’s stock valued at $9,121,000 after purchasing an additional 14,135 shares during the period. Peachtree Investment Advisors Inc. lifted its stake in shares of Cisco Systems by 3.1% in the 4th quarter. Peachtree Investment Advisors Inc. now owns 49,113 shares of the network equipment provider’s stock valued at $1,881,000 after purchasing an additional 1,475 shares during the period. Gofen & Glossberg LLC IL lifted its stake in shares of Cisco Systems by 3.3% in the 4th quarter. Gofen & Glossberg LLC IL now owns 253,585 shares of the network equipment provider’s stock valued at $9,712,000 after purchasing an additional 7,990 shares during the period. Pennsylvania Trust Co lifted its stake in shares of Cisco Systems by 4.0% in the 4th quarter. Pennsylvania Trust Co now owns 398,410 shares of the network equipment provider’s stock valued at $15,259,000 after purchasing an additional 15,272 shares during the period. Finally, Ayalon Holdings Ltd. acquired a new position in shares of Cisco Systems in the 4th quarter valued at about $295,000. Hedge funds and other institutional investors own 77.65% of the company’s stock.
A number of research analysts have recently issued reports on the company. Piper Jaffray Companies reissued an “overweight” rating and issued a $44.00 price objective on shares of Cisco Systems in a research note on Wednesday, January 10th. William Blair reissued an “outperform” rating on shares of Cisco Systems in a research note on Thursday, February 15th. Citigroup reissued a “buy” rating and issued a $40.00 price objective on shares of Cisco Systems in a research note on Thursday, November 16th. They noted that the move was a valuation call. Nomura upped their price target on Cisco Systems from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, November 16th. Finally, Zacks Investment Research downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. Ten equities research 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 company has a consensus rating of “Buy” and a consensus target price of $44.04.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.82 billion. Cisco Systems had a positive return on equity of 17.77% and a negative net margin of 3.00%. During the same period in the previous year, the company posted $0.57 EPS. sell-side analysts predict that Cisco Systems, Inc. will post 2.32 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Thursday, April 5th will be issued a dividend of $0.33 per share. 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 2.91%. The ex-dividend date is Wednesday, April 4th. Cisco Systems’s payout ratio is currently -362.50%.
Cisco Systems declared 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 repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other Cisco Systems news, Director M Michele Burns sold 12,126 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $45.37, for a total transaction of $550,156.62. Following the completion of the sale, the director now directly owns 74,479 shares of the company’s stock, valued at approximately $3,379,112.23. The sale was disclosed in a filing 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 value of $625,734.90. The disclosure for this sale can be found here. Insiders have sold a total of 116,566 shares of company stock valued at $4,636,938 over the last three months. Corporate insiders own 0.05% of the company’s stock.
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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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