Premier Fund Managers Ltd acquired a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 317,956 shares of the network equipment provider’s stock, valued at approximately $14,141,000.
Several other institutional investors and hedge funds also recently bought and sold shares of CSCO. BlackRock Inc. boosted its stake in shares of Cisco Systems by 2.0% during the fourth quarter. BlackRock Inc. now owns 327,697,698 shares of the network equipment provider’s stock valued at $14,664,472,000 after acquiring an additional 6,274,151 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Cisco Systems by 22.8% during the third quarter. First Trust Advisors LP now owns 27,173,489 shares of the network equipment provider’s stock valued at $1,070,364,000 after acquiring an additional 5,044,447 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Cisco Systems by 60.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 12,270,764 shares of the network equipment provider’s stock valued at $483,345,000 after acquiring an additional 4,600,797 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Cisco Systems during the third quarter valued at $104,089,000. Finally, FIL Ltd boosted its stake in shares of Cisco Systems by 10.3% during the fourth quarter. FIL Ltd now owns 20,853,988 shares of the network equipment provider’s stock valued at $933,215,000 after acquiring an additional 1,951,469 shares during the last quarter. 70.62% of the stock is currently owned by institutional investors and hedge funds.
In other Cisco Systems news, CFO Kelly A. Kramer sold 45,000 shares of the firm’s stock in a transaction that occurred on Friday, November 27th. The stock was sold at an average price of $42.81, for a total transaction of $1,926,450.00. Following the completion of the sale, the chief financial officer now owns 297,078 shares in the company, valued at approximately $12,717,909.18. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Maria Martinez sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 1st. The shares were sold at an average price of $44.00, for a total value of $88,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,530 shares of company stock worth $3,338,858. Company insiders own 0.02% of the company’s stock.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Tuesday, February 9th. The network equipment provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.76 by $0.03. Cisco Systems had a return on equity of 32.64% and a net margin of 21.76%. During the same quarter in the prior year, the company posted $0.77 EPS. Equities research analysts expect that Cisco Systems, Inc. will post 2.86 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 28th. Investors of record on Tuesday, April 6th will be issued a dividend of $0.37 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Monday, April 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 49.32%.
CSCO has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed a “buy” rating and set a $49.00 price objective on shares of Cisco Systems in a research note on Friday, November 13th. JPMorgan Chase & Co. raised their price target on Cisco Systems from $44.00 to $50.00 and gave the stock a “neutral” rating in a research note on Monday, January 25th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Friday, November 13th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price target on Cisco Systems from $43.00 to $45.00 in a research note on Friday, November 13th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $50.00 price target on shares of Cisco Systems in a research note on Wednesday, February 10th. Sixteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Cisco Systems has a consensus rating of “Hold” and an average target price of $48.63.
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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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