Foundation Resource Management Inc. decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 340,321 shares of the network equipment provider’s stock after selling 4,179 shares during the period. Cisco Systems makes up approximately 2.3% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 18th largest holding. Foundation Resource Management Inc.’s holdings in Cisco Systems were worth $13,034,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Richard Bernstein Advisors LLC lifted its holdings in shares of Cisco Systems by 21.2% during the second quarter. Richard Bernstein Advisors LLC now owns 269,441 shares of the network equipment provider’s stock worth $8,434,000 after purchasing an additional 47,211 shares during the period. Pzena Investment Management LLC lifted its holdings in shares of Cisco Systems by 0.4% during the third quarter. Pzena Investment Management LLC now owns 2,517,046 shares of the network equipment provider’s stock worth $84,648,000 after purchasing an additional 10,265 shares during the period. Forward Management LLC acquired a new stake in shares of Cisco Systems during the third quarter worth about $869,000. Aviva PLC lifted its holdings in shares of Cisco Systems by 6.5% during the second quarter. Aviva PLC now owns 4,769,809 shares of the network equipment provider’s stock worth $149,343,000 after purchasing an additional 289,899 shares during the period. Finally, Troy Asset Management Ltd lifted its holdings in shares of Cisco Systems by 15.0% during the third quarter. Troy Asset Management Ltd now owns 117,250 shares of the network equipment provider’s stock worth $3,943,000 after purchasing an additional 15,250 shares during the period. Institutional investors and hedge funds own 76.70% of the company’s stock.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) opened at $44.29 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.38 and a current ratio of 2.43. Cisco Systems, Inc. has a 12-month low of $30.36 and a 12-month high of $45.89. The company has a market capitalization of $213,370.00, a P/E ratio of -138.41, a P/E/G ratio of 2.99 and a beta of 1.10.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 EPS for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $11.82 billion. During the same period in the previous year, the business earned $0.57 earnings per share. analysts predict that Cisco Systems, Inc. will post 2.32 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, April 5th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.98%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, April 4th. Cisco Systems’s payout ratio is presently -362.50%.
Cisco Systems announced that its Board of Directors has initiated a stock 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 repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
CSCO has been the subject of a number of research reports. Robert W. Baird reaffirmed a “buy” rating and set a $38.00 target price on shares of Cisco Systems in a report on Friday, November 10th. Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $35.49 target price for the company in a report on Monday, November 13th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $42.00 target price on shares of Cisco Systems in a report on Tuesday, November 14th. Royal Bank of Canada reissued a “buy” rating and issued a $36.00 price target on shares of Cisco Systems in a report on Wednesday, November 15th. Finally, Barclays boosted their price target on Cisco Systems from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, November 16th. Ten investment 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 stock. The stock has a consensus rating of “Buy” and a consensus price target of $44.04.
In other Cisco Systems news, Director Roderick C. Mcgeary sold 15,230 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $38.00, for a total value of $578,740.00. Following the completion of the sale, the director now directly owns 113,154 shares in the company, valued at approximately $4,299,852. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Arun Sarin sold 14,189 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were 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 over the last quarter. 0.05% of the stock is owned by company insiders.
Cisco Systems Profile
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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