Laurel Grove Capital LLC bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 14,705 shares of the network equipment provider’s stock, valued at approximately $563,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. increased its holdings in shares of Cisco Systems by 23.6% during the third quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock valued at $2,109,614,000 after purchasing an additional 11,972,070 shares during the period. Stifel Financial Corp increased its holdings in shares of Cisco Systems by 6,109.5% during the third quarter. Stifel Financial Corp now owns 8,147,775 shares of the network equipment provider’s stock valued at $273,977,000 after purchasing an additional 8,016,561 shares during the period. Vanguard Group Inc. increased its holdings in shares of Cisco Systems by 2.2% during the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock valued at $11,021,378,000 after purchasing an additional 7,411,891 shares during the period. American Century Companies Inc. increased its holdings in shares of Cisco Systems by 54.2% during the second quarter. American Century Companies Inc. now owns 14,362,422 shares of the network equipment provider’s stock valued at $449,544,000 after purchasing an additional 5,049,326 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of Cisco Systems by 51.1% during the second quarter. Janus Henderson Group PLC now owns 13,528,059 shares of the network equipment provider’s stock valued at $423,475,000 after purchasing an additional 4,577,831 shares during the period. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

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In other Cisco Systems news, Director M Michele Burns sold 12,126 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $45.37, for a total transaction of $550,156.62. Following the completion of the sale, the director now directly owns 74,479 shares in the company, valued at approximately $3,379,112.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Goeckeler sold 20,671 shares of the firm’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $45.50, for a total value of $940,530.50. The disclosure for this sale can be found here. Insiders have sold a total of 46,986 shares of company stock valued at $2,116,422 over the last 90 days. Corporate insiders own 0.05% of the company’s stock.

A number of research analysts have recently commented on the company. Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $46.93 price target on the stock in a report on Monday. Citigroup lifted their target price on Cisco Systems from $46.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, March 16th. Morgan Stanley lifted their target price on Cisco Systems from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. Zacks Investment Research raised Cisco Systems from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Wednesday, February 21st. Finally, Argus reaffirmed a “buy” rating and set a $50.00 target price (up from $44.00) on shares of Cisco Systems in a report on Friday, February 16th. Ten equities research 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. Cisco Systems currently has an average rating of “Buy” and an average price target of $44.25.

Shares of Cisco Systems stock opened at $44.31 on Thursday. Cisco Systems, Inc. has a 1 year low of $30.36 and a 1 year high of $46.16. The company has a market capitalization of $213,753.27, a PE ratio of 19.99, a price-to-earnings-growth ratio of 2.98 and a beta of 1.10. 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 (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 EPS for the quarter, topping the Zacks’ 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 analyst estimates of $11.82 billion. During the same period last year, the company posted $0.57 EPS. equities analysts predict that Cisco Systems, Inc. will post 2.32 earnings per share for the current fiscal year.

Cisco Systems announced that its Board of Directors has approved a share buyback program on Wednesday, February 14th that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the network equipment provider to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Thursday, April 5th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, April 4th. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 dividend on an annualized basis and a yield of 2.98%. Cisco Systems’s dividend payout ratio (DPR) is presently -362.50%.

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

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