Boyd Watterson Asset Management LLC OH trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 30.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,642 shares of the network equipment provider’s stock after selling 6,834 shares during the quarter. Boyd Watterson Asset Management LLC OH’s holdings in Cisco Systems were worth $678,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Highwater Wealth Management LLC acquired a new position in Cisco Systems during the fourth quarter worth approximately $51,000. Contravisory Investment Management Inc. acquired a new position in shares of Cisco Systems in the fourth quarter valued at approximately $49,000. LFA Lugano Financial Advisors SA increased its holdings in shares of Cisco Systems by 220,000.0% in the third quarter. LFA Lugano Financial Advisors SA now owns 2,201 shares of the network equipment provider’s stock valued at $107,000 after purchasing an additional 2,200 shares during the period. Acropolis Investment Management LLC acquired a new position in shares of Cisco Systems in the fourth quarter valued at approximately $101,000. Finally, Camarda Financial Advisors LLC increased its holdings in shares of Cisco Systems by 546.3% in the third quarter. Camarda Financial Advisors LLC now owns 2,585 shares of the network equipment provider’s stock valued at $126,000 after purchasing an additional 2,185 shares during the period. 69.17% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Roderick C. Mcgeary sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $49.66, for a total value of $744,900.00. Following the completion of the sale, the director now owns 102,898 shares of the company’s stock, valued at $5,109,914.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David Goeckeler sold 30,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $52.07, for a total value of $1,562,100.00. Following the completion of the sale, the executive vice president now directly owns 419,439 shares of the company’s stock, valued at approximately $21,840,188.73. The disclosure for this sale can be found here. Insiders have sold 115,000 shares of company stock valued at $5,926,000 over the last 90 days. 0.03% of the stock is currently owned by insiders.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 13th. The network equipment provider reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.01. The company had revenue of $12.45 billion during the quarter, compared to analyst estimates of $12.43 billion. Cisco Systems had a return on equity of 27.58% and a net margin of 25.31%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 earnings per share. As a group, equities analysts predict that Cisco Systems, Inc. will post 2.75 EPS for the current year.
Cisco Systems announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 13th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to buy up to 6.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Friday, April 5th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, April 4th. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 2.51%. Cisco Systems’s dividend payout ratio is currently 59.83%.
A number of analysts recently weighed in on CSCO shares. Citigroup lifted their price target on Cisco Systems from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, February 14th. Credit Suisse Group boosted their target price on Cisco Systems from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, February 14th. Goldman Sachs Group downgraded Cisco Systems from a “conviction-buy” rating to a “buy” rating and boosted their target price for the stock from $58.00 to $62.00 in a research report on Tuesday, April 16th. Bank of America reiterated a “buy” rating and set a $56.00 target price on shares of Cisco Systems in a research report on Thursday, February 14th. Finally, KeyCorp boosted their target price on Cisco Systems from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Six research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Cisco Systems presently has a consensus rating of “Buy” and a consensus price target of $54.35.
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 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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