Triglav Skladi D.O.O. Takes $2.31 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Triglav Skladi D.O.O. acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the 4th quarter, HoldingsChannel reports. The fund acquired 39,050 shares of the network equipment provider’s stock, valued at approximately $2,312,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CSCO. Norges Bank purchased a new position in shares of Cisco Systems in the fourth quarter valued at approximately $3,297,905,000. FMR LLC lifted its stake in Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock worth $4,571,218,000 after acquiring an additional 13,285,052 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Cisco Systems in the fourth quarter worth approximately $560,722,000. Alyeska Investment Group L.P. purchased a new position in Cisco Systems in the fourth quarter worth approximately $413,491,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in Cisco Systems by 187.9% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider’s stock worth $442,749,000 after acquiring an additional 4,880,747 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $63.62 on Monday. The firm’s fifty day simple moving average is $58.75 and its 200-day simple moving average is $59.72. The stock has a market capitalization of $253.10 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. 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 announced its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The business had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 EPS. As a group, equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.58%. Cisco Systems’s payout ratio is 71.62%.

Cisco Systems declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CSCO. The Goldman Sachs Group lifted their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Wells Fargo & Company upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $72.00 to $75.00 in a research note on Thursday. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target for the company in a research note on Tuesday, January 28th. Citigroup lifted their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Evercore ISI lifted their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $68.00.

Insider Activity

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the transaction, the senior vice president now directly owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. The trade was a 1.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of 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. Insiders have sold 14,635 shares of company stock valued at $931,901 in the last ninety days. 0.01% of the stock is currently owned by company insiders.

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.