Joel Isaacson & Co. LLC raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 174.0% in the 4th quarter, Holdings Channel reports. The firm owned 52,538 shares of the network equipment provider’s stock after acquiring an additional 33,361 shares during the period. Joel Isaacson & Co. LLC’s holdings in Cisco Systems were worth $2,285,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CSCO. Bank of New York Mellon Corp lifted its position in Cisco Systems by 193,168.7% in the third quarter. Bank of New York Mellon Corp now owns 104,741,949 shares of the network equipment provider’s stock valued at $5,095,693,000 after purchasing an additional 104,687,754 shares during the last quarter. Man Group plc raised its holdings in shares of Cisco Systems by 412.1% during the third quarter. Man Group plc now owns 3,063,334 shares of the network equipment provider’s stock valued at $149,032,000 after acquiring an additional 2,465,161 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Cisco Systems by 11.9% during the third quarter. Fisher Asset Management LLC now owns 20,099,819 shares of the network equipment provider’s stock valued at $977,856,000 after acquiring an additional 2,129,952 shares in the last quarter. Royal London Asset Management Ltd. bought a new position in shares of Cisco Systems during the second quarter valued at approximately $90,333,000. Finally, Rehmann Capital Advisory Group raised its holdings in shares of Cisco Systems by 4,016.5% during the third quarter. Rehmann Capital Advisory Group now owns 1,901,239 shares of the network equipment provider’s stock valued at $3,057,143,000 after acquiring an additional 1,855,053 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

In related news, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $51.70, for a total value of $3,619,000.00. Following the sale, the chief financial officer now directly owns 420,696 shares of the company’s stock, valued at $21,749,983.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP David Goeckeler sold 30,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $52.07, for a total value of $1,562,100.00. Following the completion of the sale, the executive vice president now directly owns 419,439 shares in the company, valued at $21,840,188.73. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,000 shares of company stock worth $5,926,000. 0.03% of the stock is owned by insiders.

A number of equities analysts recently commented on the company. Argus restated a “buy” rating and set a $55.00 target price on shares of Cisco Systems in a report on Tuesday, January 15th. Wells Fargo & Co restated an “outperform” rating and set a $57.00 target price (up previously from $52.00) on shares of Cisco Systems in a report on Wednesday, February 13th. Credit Suisse Group upped their target price on Cisco Systems from $44.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, February 14th. KeyCorp upped their target price on Cisco Systems from $55.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, March 25th. Finally, MKM Partners upped their target price on Cisco Systems to $54.00 and gave the company a “neutral” rating in a report on Thursday, February 14th. Seven investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Cisco Systems presently has an average rating of “Buy” and a consensus price target of $53.49.

Shares of CSCO stock opened at $55.82 on Thursday. The firm has a market capitalization of $265.83 billion, a P/E ratio of 21.22, a PEG ratio of 2.87 and a beta of 1.22. Cisco Systems, Inc. has a twelve month low of $40.25 and a twelve month high of $55.84. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.74 and a current ratio of 1.80.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 13th. The network equipment provider reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.01. The company had revenue of $12.45 billion for the quarter, compared to analysts’ expectations of $12.43 billion. Cisco Systems had a return on equity of 27.58% and a net margin of 25.31%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 earnings per share. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 2.75 earnings per share for the current fiscal year.

Cisco Systems announced that its board has approved a share repurchase program on Wednesday, February 13th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Friday, April 5th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.51%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, April 4th. Cisco Systems’s dividend payout ratio is presently 59.83%.

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Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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