Mission Wealth Management LP raised its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 10.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 53,377 shares of the network equipment provider's stock after acquiring an additional 4,997 shares during the period. Mission Wealth Management LP's holdings in Cisco Systems were worth $3,160,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC boosted its position in shares of Cisco Systems by 10.1% during the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider's stock worth $3,402,432,000 after purchasing an additional 5,885,879 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in Cisco Systems by 327.5% during the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider's stock worth $362,907,000 after buying an additional 5,223,800 shares in the last quarter. National Bank of Canada FI grew its position in Cisco Systems by 79.6% during the third quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider's stock worth $477,463,000 after buying an additional 3,975,028 shares during the period. State Street Corp increased its holdings in Cisco Systems by 1.7% in the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider's stock valued at $10,297,506,000 after buying an additional 3,241,682 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Cisco Systems by 87.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,541,607 shares of the network equipment provider's stock valued at $294,923,000 after acquiring an additional 2,591,684 shares during the period. Hedge funds and other institutional investors own 73.33% of the company's stock.
Several equities analysts recently weighed in on CSCO shares. The Goldman Sachs Group raised their price objective on Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised their price target on Cisco Systems from $69.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Melius Research raised Cisco Systems from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Barclays increased their price objective on shares of Cisco Systems from $56.00 to $61.00 and gave the company an "equal weight" rating in a research note on Thursday, February 13th. Finally, Melius upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and lifted their target price for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $66.63.
Check Out Our Latest Stock Analysis on CSCO
In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 11,808 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $64.37, for a total value of $760,080.96. Following the transaction, the executive vice president now directly owns 200,191 shares of the company's stock, valued at $12,886,294.67. This trade represents a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of the company's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the sale, the senior vice president now directly owns 50,767 shares of the company's stock, valued at $2,979,515.23. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,848 shares of company stock worth $4,767,206. Company insiders own 0.01% of the company's stock.
Shares of CSCO traded down $0.22 during mid-day trading on Tuesday, reaching $63.26. The company had a trading volume of 24,580,342 shares, compared to its average volume of 20,063,506. The stock has a market cap of $251.67 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $61.32 and a 200-day simple moving average of $57.06. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Thursday, April 3rd. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's dividend payout ratio is 71.62%.
Cisco Systems declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.
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. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.
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