Dalton Greiner Hartman Maher & Co. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 616,187 shares of the network equipment provider’s stock after selling 85,099 shares during the quarter. Cisco Systems accounts for approximately 1.2% of Dalton Greiner Hartman Maher & Co.’s investment portfolio, making the stock its 16th largest holding. Dalton Greiner Hartman Maher & Co.’s holdings in Cisco Systems were worth $23,600,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Beach Investment Management LLC. purchased a new position in shares of Cisco Systems during the second quarter valued at $1,030,000. IFC Holdings Incorporated FL increased its stake in shares of Cisco Systems by 19.0% during the second quarter. IFC Holdings Incorporated FL now owns 54,019 shares of the network equipment provider’s stock valued at $1,688,000 after buying an additional 8,639 shares during the period. Wedbush Securities Inc. increased its stake in shares of Cisco Systems by 13.3% during the second quarter. Wedbush Securities Inc. now owns 96,679 shares of the network equipment provider’s stock valued at $3,026,000 after buying an additional 11,316 shares during the period. LaFleur & Godfrey LLC increased its stake in shares of Cisco Systems by 27.8% during the second quarter. LaFleur & Godfrey LLC now owns 296,926 shares of the network equipment provider’s stock valued at $9,294,000 after buying an additional 64,635 shares during the period. Finally, Westchester Capital Management Inc. increased its stake in shares of Cisco Systems by 3.3% during the second quarter. Westchester Capital Management Inc. now owns 275,350 shares of the network equipment provider’s stock valued at $8,618,000 after buying an additional 8,839 shares during the period. Institutional investors and hedge funds own 76.70% of the company’s stock.
In related news, Director M Michele Burns sold 12,126 shares of Cisco Systems stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $45.37, for a total transaction of $550,156.62. Following the completion of the sale, the director now owns 74,479 shares of the company’s stock, valued at $3,379,112.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arun Sarin sold 14,189 shares of Cisco Systems stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $44.10, for a total value of $625,734.90. The disclosure for this sale can be found here. Insiders have sold 116,566 shares of company stock valued at $4,636,938 in the last ninety days. Corporate insiders own 0.05% of the company’s stock.
Several brokerages have recently commented on CSCO. Piper Jaffray Companies restated an “overweight” rating and set a $44.00 price target on shares of Cisco Systems in a research note on Wednesday, January 10th. Vetr upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $46.17 price target on the stock in a research note on Wednesday. William Blair restated an “outperform” rating on shares of Cisco Systems in a research note on Thursday, February 15th. Citigroup reiterated a “buy” rating and issued a $40.00 target price on shares of Cisco Systems in a research note on Thursday, November 16th. They noted that the move was a valuation call. Finally, Nomura lifted their target price on Cisco Systems from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, November 16th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $44.04.
Shares of Cisco Systems, Inc. (CSCO) opened at $44.29 on Wednesday. The company has a current ratio of 2.43, a quick ratio of 2.38 and a debt-to-equity ratio of 0.49. Cisco Systems, Inc. has a twelve month low of $30.36 and a twelve month high of $45.89. The company has a market capitalization of $213,370.00, a PE ratio of -138.41, a P/E/G ratio of 2.99 and a beta of 1.10.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. Cisco Systems had a positive return on equity of 17.77% and a negative net margin of 3.00%. The firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.82 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. analysts expect that Cisco Systems, Inc. will post 2.32 EPS for the current fiscal year.
Cisco Systems declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 14th that authorizes the company to repurchase $25.00 billion in shares. This repurchase authorization authorizes the network equipment provider to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, April 5th will be issued a dividend of $0.33 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, April 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.98%. Cisco Systems’s payout ratio is -362.50%.
About Cisco Systems
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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