Chartwell Investment Partners LLC increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 461,412 shares of the network equipment provider’s stock after purchasing an additional 26,800 shares during the quarter. Cisco Systems comprises about 0.7% of Chartwell Investment Partners LLC’s portfolio, making the stock its 23rd biggest position. Chartwell Investment Partners LLC’s holdings in Cisco Systems were worth $19,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Horan Securities Inc. boosted its stake in Cisco Systems by 663.0% in the fourth quarter. Horan Securities Inc. now owns 763 shares of the network equipment provider’s stock valued at $33,000 after acquiring an additional 663 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in shares of Cisco Systems during the fourth quarter worth $49,000. Highwater Wealth Management LLC bought a new position in shares of Cisco Systems during the fourth quarter worth $51,000. Acropolis Investment Management LLC bought a new position in shares of Cisco Systems during the fourth quarter worth $101,000. Finally, Hanseatic Management Services Inc. boosted its position in shares of Cisco Systems by 74.6% during the fourth quarter. Hanseatic Management Services Inc. now owns 2,654 shares of the network equipment provider’s stock worth $115,000 after purchasing an additional 1,134 shares in the last quarter. 69.04% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:CSCO opened at $55.69 on Thursday. Cisco Systems, Inc. has a 12 month low of $40.25 and a 12 month high of $57.53. The company has a current ratio of 1.69, a quick ratio of 1.74 and a debt-to-equity ratio of 0.43. The firm has a market cap of $272.14 billion, a P/E ratio of 23.80, a P/E/G ratio of 2.93 and a beta of 1.21.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. Cisco Systems had a net margin of 25.76% and a return on equity of 29.88%. The business had revenue of $12.96 billion for the quarter, compared to analyst estimates of $12.89 billion. During the same period last year, the business posted $0.66 earnings per share. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. Research analysts predict that Cisco Systems, Inc. will post 2.76 earnings per share for the current fiscal year.
Cisco Systems announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 13th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In related news, EVP David Goeckeler sold 30,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $52.07, for a total transaction of $1,562,100.00. Following the sale, the executive vice president now directly owns 419,439 shares in the company, valued at $21,840,188.73. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark D. Chandler sold 3,750 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $55.79, for a total transaction of $209,212.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,750 shares of company stock worth $5,390,313. 0.03% of the stock is currently owned by company insiders.
CSCO has been the topic of a number of recent analyst reports. Robert W. Baird reissued a “buy” rating and set a $53.00 price target on shares of Cisco Systems in a research report on Tuesday, February 12th. Morgan Stanley cut shares of Cisco Systems from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $51.00 to $49.00 in a research report on Tuesday, February 12th. Wells Fargo & Co reissued an “outperform” rating and set a $57.00 price target (up from $52.00) on shares of Cisco Systems in a research report on Wednesday, February 13th. Citigroup lifted their price target on shares of Cisco Systems from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, February 14th. Finally, Jefferies Financial Group lifted their price target on shares of Cisco Systems to $55.00 and gave the stock a “buy” rating in a research report on Thursday, February 14th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $55.87.
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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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