Cisco Systems, Inc. (CSCO) Position Cut by Cobiz Wealth LLC
Cobiz Wealth LLC reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 30,987 shares of the network equipment provider’s stock after selling 3,110 shares during the period. Cobiz Wealth LLC’s holdings in Cisco Systems were worth $1,187,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of CSCO. Vantage Financial Partners Ltd. Inc. acquired a new stake in Cisco Systems during the second quarter worth approximately $231,000. Stonehearth Capital Management LLC acquired a new stake in Cisco Systems during the fourth quarter worth approximately $102,000. Mountain Capital Investment Advisors Inc acquired a new stake in Cisco Systems during the second quarter worth approximately $104,000. Manchester Capital Management LLC lifted its position in Cisco Systems by 10.7% during the second quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock worth $113,000 after acquiring an additional 350 shares during the last quarter. Finally, Ffcm LLC lifted its position in Cisco Systems by 2,025.0% during the second quarter. Ffcm LLC now owns 3,740 shares of the network equipment provider’s stock worth $117,000 after acquiring an additional 3,564 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.
Several equities research analysts have issued reports on CSCO shares. Sanford C. Bernstein restated a “buy” rating and set a $40.00 price objective on shares of Cisco Systems in a research report on Monday, November 27th. Zacks Investment Research upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Wednesday, January 17th. Robert W. Baird reiterated a “buy” rating and issued a $41.00 price target on shares of Cisco Systems in a research report on Tuesday, December 5th. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $38.99 to $46.00 in a research report on Friday, January 5th. They noted that the move was a valuation call. Finally, Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $44.13 price target for the company in a research report on Tuesday, January 30th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $44.25.
Cisco Systems, Inc. (NASDAQ:CSCO) opened at $43.07 on Friday. The stock has a market cap of $213,464.23, a P/E ratio of -134.59, a P/E/G ratio of 2.98 and a beta of 1.10. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.43 and a quick ratio of 2.38. Cisco Systems, Inc. has a one year low of $30.36 and a one year high of $46.16.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.82 billion. Cisco Systems had a negative net margin of 3.00% and a positive return on equity of 17.77%. During the same period last year, the firm posted $0.57 earnings per share. equities analysts anticipate that Cisco Systems, Inc. will post 2.32 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Thursday, April 5th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Wednesday, April 4th. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s payout ratio is presently -362.50%.
Cisco Systems announced that its board has authorized a share repurchase program on Wednesday, February 14th that authorizes the company to buyback $25.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
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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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