First National Bank of Omaha grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 594,749 shares of the network equipment provider’s stock after buying an additional 7,929 shares during the quarter. Cisco Systems accounts for approximately 1.3% of First National Bank of Omaha’s holdings, making the stock its 11th biggest holding. First National Bank of Omaha’s holdings in Cisco Systems were worth $22,779,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in CSCO. Stonehearth Capital Management LLC acquired a new stake in shares of Cisco Systems during the fourth quarter valued at $102,000. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Cisco Systems during the second quarter valued at $104,000. Manchester Capital Management LLC boosted its stake in shares of Cisco Systems by 10.7% during the second quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after acquiring an additional 350 shares during the last quarter. Goodman Financial Corp acquired a new stake in Cisco Systems in the 4th quarter worth about $115,000. Finally, Ffcm LLC boosted its stake in Cisco Systems by 2,025.0% in the 2nd quarter. Ffcm LLC now owns 3,740 shares of the network equipment provider’s stock worth $117,000 after buying an additional 3,564 shares during the last quarter. Institutional investors and hedge funds own 77.55% of the company’s stock.
Shares of NASDAQ:CSCO opened at $44.56 on Friday. The stock has a market cap of $214,813.13, a P/E ratio of 20.73, a P/E/G ratio of 2.99 and a beta of 1.14. The company has a current ratio of 2.43, a quick ratio of 2.38 and a debt-to-equity ratio of 0.49. Cisco Systems, Inc. has a one year low of $30.36 and a one year high of $46.16.
Cisco Systems announced that its board has initiated a stock repurchase program on Wednesday, February 14th that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, April 5th will be issued a dividend of $0.33 per share. 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 2.96%. The ex-dividend date is Wednesday, April 4th. Cisco Systems’s dividend payout ratio (DPR) is presently 61.40%.
In other Cisco Systems news, Director M Michele Burns sold 12,126 shares of Cisco Systems stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $45.37, for a total transaction of $550,156.62. Following the sale, the director now directly owns 74,479 shares in the company, valued at approximately $3,379,112.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arun Sarin sold 14,189 shares of Cisco Systems stock in a transaction that occurred on Tuesday, February 20th. The stock was 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. Over the last quarter, insiders have sold 46,986 shares of company stock worth $2,116,422. Company insiders own 0.05% of the company’s stock.
A number of analysts have issued reports on CSCO shares. Vetr raised Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $46.32 price target on the stock in a research note on Tuesday, April 3rd. Goldman Sachs raised Cisco Systems from a “buy” rating to a “conviction-buy” rating in a research note on Friday, March 23rd. Zacks Investment Research raised Cisco Systems from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Wednesday, January 17th. Finally, Royal Bank of Canada raised their price target on Cisco Systems to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. Cisco Systems presently has a consensus rating of “Buy” and an average target price of $44.26.
COPYRIGHT VIOLATION WARNING: This article was reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this article on another domain, it was copied illegally and reposted in violation of international copyright and trademark law. The correct version of this article can be accessed at https://stocknewstimes.com/2018/04/20/cisco-systems-inc-csco-shares-bought-by-first-national-bank-of-omaha.html.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO).
Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.