Congress Asset Management Co. MA grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 8.9% during the 4th quarter, HoldingsChannel reports. The firm owned 275,317 shares of the network equipment provider’s stock after acquiring an additional 22,611 shares during the quarter. Congress Asset Management Co. MA’s holdings in Cisco Systems were worth $13,116,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of CSCO. United Bank bought a new stake in shares of Cisco Systems in the 1st quarter valued at approximately $645,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Cisco Systems by 32.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,243,073 shares of the network equipment provider’s stock valued at $236,593,000 after purchasing an additional 1,040,607 shares during the period. Roundview Capital LLC grew its position in Cisco Systems by 13.1% during the 1st quarter. Roundview Capital LLC now owns 10,540 shares of the network equipment provider’s stock worth $588,000 after acquiring an additional 1,221 shares during the last quarter. Merit Financial Group LLC grew its position in Cisco Systems by 21.5% during the 1st quarter. Merit Financial Group LLC now owns 11,763 shares of the network equipment provider’s stock worth $656,000 after acquiring an additional 2,079 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in Cisco Systems by 8.1% during the 1st quarter. Mackenzie Financial Corp now owns 2,429,518 shares of the network equipment provider’s stock worth $135,470,000 after acquiring an additional 182,857 shares during the last quarter. 71.10% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, EVP Deborah L. Stahlkopf sold 23,701 shares of the firm’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $50.90, for a total value of $1,206,380.90. Following the completion of the transaction, the executive vice president now owns 184,853 shares in the company, valued at approximately $9,409,017.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 23,701 shares of the firm’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $50.90, for a total value of $1,206,380.90. Following the completion of the transaction, the executive vice president now owns 184,853 shares in the company, valued at approximately $9,409,017.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,142 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $48.78, for a total value of $153,266.76. Following the completion of the transaction, the executive vice president now owns 180,697 shares of the company’s stock, valued at approximately $8,814,399.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,568 shares of company stock worth $2,376,624. Corporate insiders own 0.02% of the company’s stock.
Cisco Systems Price Performance
CSCO stock opened at $50.51 on Friday. The stock has a 50-day moving average price of $48.73 and a two-hundred day moving average price of $46.51. The stock has a market cap of $206.88 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 2.28 and a beta of 1.00. The company has a current ratio of 1.41, a quick ratio of 1.30 and a debt-to-equity ratio of 0.18. Cisco Systems, Inc. has a 1 year low of $38.60 and a 1 year high of $56.94.
Cisco Systems (NASDAQ:CSCO – Get Rating) last released its earnings results on Wednesday, February 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.12. The firm had revenue of $13.59 billion during the quarter, compared to analysts’ expectations of $13.41 billion. Cisco Systems had a return on equity of 31.19% and a net margin of 21.26%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. Equities analysts forecast that Cisco Systems, Inc. will post 3.34 EPS for the current fiscal year.
Cisco Systems Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 26th. Shareholders of record on Wednesday, April 5th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Tuesday, April 4th. This is a boost from Cisco Systems’s previous quarterly dividend of $0.38. Cisco Systems’s dividend payout ratio is 55.68%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the company. UBS Group increased their price target on Cisco Systems from $48.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, February 16th. The Goldman Sachs Group assumed coverage on Cisco Systems in a research report on Monday, March 6th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. increased their price target on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, February 16th. Raymond James increased their price target on Cisco Systems from $59.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, February 16th. Finally, Loop Capital upped their price objective on Cisco Systems from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, February 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.38.
Cisco Systems Profile
Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its products include the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.
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