Investment Management Corp of Ontario Purchases 59,680 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Investment Management Corp of Ontario boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 44.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 193,478 shares of the network equipment provider’s stock after purchasing an additional 59,680 shares during the quarter. Investment Management Corp of Ontario’s holdings in Cisco Systems were worth $11,454,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Mainstream Capital Management LLC acquired a new stake in Cisco Systems during the 4th quarter worth $132,000. Proficio Capital Partners LLC boosted its position in shares of Cisco Systems by 76.4% in the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock worth $1,003,000 after purchasing an additional 7,338 shares during the last quarter. CENTRAL TRUST Co grew its stake in shares of Cisco Systems by 4.8% during the fourth quarter. CENTRAL TRUST Co now owns 112,101 shares of the network equipment provider’s stock worth $6,636,000 after purchasing an additional 5,123 shares during the period. Requisite Capital Management LLC bought a new stake in Cisco Systems in the fourth quarter valued at about $1,670,000. Finally, Stonegate Investment Group LLC lifted its stake in Cisco Systems by 0.8% in the fourth quarter. Stonegate Investment Group LLC now owns 1,539,557 shares of the network equipment provider’s stock valued at $91,142,000 after buying an additional 11,506 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of recent analyst reports. StockNews.com cut Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 5th. Evercore ISI cut their target price on shares of Cisco Systems from $75.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Citigroup reduced their target price on Cisco Systems from $73.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, UBS Group increased their price target on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average price target of $65.05.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the sale, the chief executive officer now owns 736,120 shares of the company’s stock, valued at $47,413,489.20. The trade was a 4.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now directly owns 191,184 shares in the company, valued at $11,604,868.80. This represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,547 shares of company stock valued at $4,275,553. 0.01% of the stock is owned by company insiders.

Cisco Systems Price Performance

Shares of CSCO opened at $59.77 on Friday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The firm has a market capitalization of $237.78 billion, a PE ratio of 26.10, a PEG ratio of 4.16 and a beta of 0.89. The company’s 50-day moving average is $58.78 and its 200-day moving average is $59.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Equities analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.74%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is currently 71.62%.

Cisco Systems declared that its Board of Directors has approved a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.