Nuveen Asset Management LLC Has $917.39 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Nuveen Asset Management LLC lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 19.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 15,496,389 shares of the network equipment provider’s stock after purchasing an additional 2,483,776 shares during the quarter. Nuveen Asset Management LLC’s holdings in Cisco Systems were worth $917,386,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CSCO. Fiduciary Alliance LLC raised its holdings in Cisco Systems by 85.3% during the 4th quarter. Fiduciary Alliance LLC now owns 20,434 shares of the network equipment provider’s stock worth $1,210,000 after purchasing an additional 9,405 shares during the last quarter. City State Bank grew its position in shares of Cisco Systems by 12.2% during the 4th quarter. City State Bank now owns 4,365 shares of the network equipment provider’s stock worth $258,000 after buying an additional 474 shares during the period. Cooper Financial Group raised its stake in shares of Cisco Systems by 9.0% during the fourth quarter. Cooper Financial Group now owns 15,440 shares of the network equipment provider’s stock worth $914,000 after buying an additional 1,276 shares during the last quarter. Eastern Bank lifted its holdings in Cisco Systems by 2.2% in the fourth quarter. Eastern Bank now owns 36,067 shares of the network equipment provider’s stock valued at $2,135,000 after buying an additional 760 shares during the period. Finally, Elevated Capital Advisors LLC boosted its stake in Cisco Systems by 28.5% in the fourth quarter. Elevated Capital Advisors LLC now owns 9,336 shares of the network equipment provider’s stock valued at $553,000 after acquiring an additional 2,073 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 0.2%

Cisco Systems stock opened at $61.78 on Wednesday. The company has a 50 day moving average of $58.70 and a 200-day moving average of $59.53. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The stock has a market capitalization of $245.78 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Cisco Systems from $73.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Citigroup dropped their price objective on Cisco Systems from $73.00 to $68.00 and set a “buy” rating for the company in a report on Monday, April 14th. UBS Group raised their target price on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price for the company in a research report on Tuesday, January 28th. Finally, StockNews.com downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 5th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.05.

Insiders Place Their Bets

In other news, CFO Richard Scott Herren sold 19,929 shares of Cisco Systems stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $1,283,626.89. Following the sale, the chief financial officer now directly owns 335,605 shares in the company, valued at $21,616,318.05. This trade represents a 5.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total transaction of $46,474.38. Following the transaction, the senior vice president now owns 44,155 shares of the company’s stock, valued at $2,693,013.45. The trade was a 1.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,547 shares of company stock worth $4,275,553. Corporate insiders own 0.01% of the company’s stock.

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 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.