Welch Group LLC raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,446 shares of the network equipment provider’s stock after purchasing an additional 1,172 shares during the quarter. Welch Group LLC’s holdings in Cisco Systems were worth $2,576,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of CSCO. Arlington Partners LLC boosted its holdings in shares of Cisco Systems by 2.2% in the 4th quarter. Arlington Partners LLC now owns 24,828 shares of the network equipment provider’s stock valued at $1,076,000 after buying an additional 545 shares during the period. Grassi Investment Management acquired a new position in shares of Cisco Systems in the 4th quarter valued at about $5,534,000. Alta Capital Management LLC boosted its holdings in shares of Cisco Systems by 5.0% in the 4th quarter. Alta Capital Management LLC now owns 35,330 shares of the network equipment provider’s stock valued at $1,530,000 after buying an additional 1,694 shares during the period. CHICAGO TRUST Co NA boosted its holdings in shares of Cisco Systems by 5.6% in the 4th quarter. CHICAGO TRUST Co NA now owns 20,640 shares of the network equipment provider’s stock valued at $894,000 after buying an additional 1,093 shares during the period. Finally, Atalanta Sosnoff Capital LLC boosted its holdings in shares of Cisco Systems by 36.7% in the 4th quarter. Atalanta Sosnoff Capital LLC now owns 1,398,810 shares of the network equipment provider’s stock valued at $60,611,000 after buying an additional 375,496 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $51.70, for a total transaction of $3,619,000.00. Following the transaction, the chief financial officer now directly owns 420,696 shares of the company’s stock, valued at $21,749,983.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roderick C. Mcgeary sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $49.66, for a total transaction of $744,900.00. Following the transaction, the director now directly owns 102,898 shares in the company, valued at $5,109,914.68. The disclosure for this sale can be found here. Insiders have sold 115,000 shares of company stock worth $5,926,000 in the last 90 days. 0.03% of the stock is owned by company insiders.
Shares of NASDAQ CSCO traded up $0.27 during midday trading on Monday, reaching $56.56. The company’s stock had a trading volume of 10,911,751 shares, compared to its average volume of 20,455,320. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.80 and a quick ratio of 1.74. Cisco Systems, Inc. has a one year low of $40.25 and a one year high of $56.61. The company has a market capitalization of $267.85 billion, a P/E ratio of 24.17, a PEG ratio of 2.89 and a beta of 1.22.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 13th. The network equipment provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Cisco Systems had a net margin of 25.31% and a return on equity of 27.58%. The business had revenue of $12.45 billion for the quarter, compared to the consensus estimate of $12.43 billion. During the same period in the previous year, the firm earned $0.63 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts anticipate that Cisco Systems, Inc. will post 2.75 earnings per share for the current year.
Cisco Systems declared that its Board of Directors has approved a share buyback plan on Wednesday, February 13th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to repurchase up to 6.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Friday, April 5th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.48%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.33. Cisco Systems’s payout ratio is currently 59.83%.
Cisco Systems Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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