Nomura Asset Management Co. Ltd. grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 54.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,859,418 shares of the network equipment provider’s stock after buying an additional 654,379 shares during the period. Cisco Systems accounts for about 0.8% of Nomura Asset Management Co. Ltd.’s investment portfolio, making the stock its 27th largest position. Nomura Asset Management Co. Ltd.’s holdings in Cisco Systems were worth $62,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently added to or reduced their stakes in CSCO. Richard Bernstein Advisors LLC increased its position in Cisco Systems by 21.2% in the second quarter. Richard Bernstein Advisors LLC now owns 269,441 shares of the network equipment provider’s stock worth $8,434,000 after purchasing an additional 47,211 shares during the last quarter. Pzena Investment Management LLC increased its position in Cisco Systems by 0.4% in the third quarter. Pzena Investment Management LLC now owns 2,517,046 shares of the network equipment provider’s stock worth $84,648,000 after purchasing an additional 10,265 shares during the last quarter. Forward Management LLC bought a new stake in Cisco Systems in the third quarter worth $869,000. Aviva PLC increased its position in Cisco Systems by 6.5% in the second quarter. Aviva PLC now owns 4,769,809 shares of the network equipment provider’s stock worth $149,343,000 after purchasing an additional 289,899 shares during the last quarter. Finally, Callahan Advisors LLC increased its position in Cisco Systems by 0.3% in the second quarter. Callahan Advisors LLC now owns 256,794 shares of the network equipment provider’s stock worth $8,038,000 after purchasing an additional 651 shares during the last quarter. Hedge funds and other institutional investors own 75.06% of the company’s stock.
Several equities research analysts recently weighed in on CSCO shares. Barclays boosted their price target on shares of Cisco Systems from $37.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 17th. Oppenheimer reaffirmed a “buy” rating and set a $36.00 price objective on shares of Cisco Systems in a research note on Tuesday, October 31st. Vetr lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $35.78 price objective for the company. in a research note on Friday, November 17th. Cowen reaffirmed a “buy” rating on shares of Cisco Systems in a research note on Friday, November 17th. Finally, Zacks Investment Research lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Cisco Systems presently has an average rating of “Buy” and a consensus target price of $43.66.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. The firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.82 billion. Cisco Systems had a positive return on equity of 17.77% and a negative net margin of 3.00%. During the same period in the previous year, the company posted $0.57 earnings per share. research analysts anticipate that Cisco Systems, Inc. will post 2.32 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, April 5th will be issued a $0.33 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Wednesday, April 4th. Cisco Systems’s payout ratio is presently -362.50%.
Cisco Systems declared that its Board of Directors has approved a share buyback program on Wednesday, February 14th that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the network equipment provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In related news, SVP Rebecca Jacoby sold 75,021 shares of Cisco Systems stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total value of $2,882,306.82. Following the completion of the sale, the senior vice president now directly owns 257,476 shares in the company, valued at $9,892,227.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arun Sarin sold 14,189 shares of Cisco Systems stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $44.10, for a total value of $625,734.90. The disclosure for this sale can be found here. Insiders sold 104,440 shares of company stock valued at $4,086,782 over the last 90 days. 0.05% of the stock is currently owned by corporate insiders.
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Cisco Systems 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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