Cisco Systems, Inc. (NASDAQ:CSCO) Stock Holdings Lifted by Redwood Investment Management LLC

Redwood Investment Management LLC lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 49.9% in the 4th quarter, Holdings Channel reports. The fund owned 59,535 shares of the network equipment provider’s stock after buying an additional 19,822 shares during the period. Redwood Investment Management LLC’s holdings in Cisco Systems were worth $3,524,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock worth $4,571,218,000 after buying an additional 13,285,052 shares during the period. Norges Bank acquired a new stake in Cisco Systems during the 4th quarter worth about $3,297,905,000. Northern Trust Corp grew its stake in Cisco Systems by 11.4% during the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider’s stock valued at $2,796,505,000 after acquiring an additional 4,832,813 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Cisco Systems by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider’s stock worth $1,741,597,000 after purchasing an additional 681,555 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Cisco Systems by 12.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,161,261 shares of the network equipment provider’s stock worth $1,015,948,000 after purchasing an additional 1,943,563 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. This trade represents a 1.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the transaction, the executive vice president now owns 191,184 shares in the company, valued at approximately $11,604,868.80. This trade represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,547 shares of company stock valued at $4,275,553 over the last ninety days. 0.01% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CSCO shares. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price for the company in a research note on Tuesday, January 28th. Rosenblatt Securities lowered their target price on Cisco Systems from $80.00 to $63.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. UBS Group boosted their price target on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group increased their price objective on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.05.

Cisco Systems Trading Down 0.8%

Shares of Cisco Systems stock opened at $61.29 on Thursday. 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 company has a market cap of $243.83 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 4.16 and a beta of 0.89. The company’s fifty day simple moving average is $58.65 and its 200-day simple moving average is $59.54. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.05. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. During the same period last year, the business earned $0.88 earnings per share. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems announced that its board has authorized a share buyback plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.68%. Cisco Systems’s payout ratio is 71.62%.

About Cisco Systems

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.