River Road Asset Management LLC Takes Position in Cisco Systems (CSCO)

River Road Asset Management LLC acquired a new position in shares of Cisco Systems (NASDAQ:CSCO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,015,880 shares of the network equipment provider’s stock, valued at approximately $38,908,000.

A number of other institutional investors have also recently modified their holdings of CSCO. Rothschild Investment Corp IL boosted its stake in Cisco Systems by 1.9% in the fourth quarter. Rothschild Investment Corp IL now owns 297,112 shares of the network equipment provider’s stock valued at $11,379,000 after acquiring an additional 5,517 shares during the last quarter. Pzena Investment Management LLC boosted its stake 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 valued at $84,648,000 after acquiring an additional 10,265 shares during the last quarter. Forward Management LLC bought a new position in Cisco Systems in the third quarter valued at approximately $869,000. Mitsubishi UFJ Asset Management UK Ltd. boosted its stake in Cisco Systems by 320.0% in the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 126,000 shares of the network equipment provider’s stock valued at $4,825,000 after acquiring an additional 96,000 shares during the last quarter. Finally, Troy Asset Management Ltd boosted its stake in Cisco Systems by 15.0% in the third quarter. Troy Asset Management Ltd now owns 117,250 shares of the network equipment provider’s stock valued at $3,943,000 after acquiring an additional 15,250 shares during the last quarter. 77.58% of the stock is currently owned by hedge funds and other institutional investors.

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A number of equities analysts have issued reports on CSCO shares. ValuEngine raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Wednesday, January 31st. Vetr raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $44.13 price objective on the stock in a research note on Tuesday, January 30th. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their price objective for the company from $38.99 to $46.00 in a research note on Friday, January 5th. They noted that the move was a valuation call. Finally, Goldman Sachs started coverage on shares of Cisco Systems in a research note on Wednesday, February 7th. They issued a “buy” rating and a $48.00 price objective on the stock. Eleven analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $44.26.



In related news, Director M Michele Burns sold 12,126 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $45.37, for a total value of $550,156.62. Following the completion of the transaction, the director now owns 74,479 shares of the company’s stock, valued at $3,379,112.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP David Goeckeler sold 20,671 shares of the firm’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $45.50, for a total transaction of $940,530.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,986 shares of company stock worth $2,116,422. 0.05% of the stock is currently owned by company insiders.

Shares of NASDAQ:CSCO opened at $44.25 on Tuesday. Cisco Systems has a 12 month low of $30.36 and a 12 month high of $46.16. The company has a current ratio of 2.43, a quick ratio of 2.38 and a debt-to-equity ratio of 0.49. The firm has a market cap of $212,404.38, a P/E ratio of 20.58, a P/E/G ratio of 3.15 and a beta of 1.14.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Cisco Systems had a negative net margin of 3.00% and a positive return on equity of 17.77%. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.82 billion. During the same period last year, the business posted $0.57 earnings per share. research analysts predict that Cisco Systems will post 2.33 earnings per share for the current fiscal year.

The business 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 dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.98%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, April 4th. Cisco Systems’s dividend payout ratio (DPR) is presently 61.40%.

Cisco Systems declared that its board has authorized a share repurchase plan on Wednesday, February 14th that allows the company to repurchase $25.00 billion in shares. This repurchase authorization allows the network equipment provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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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.

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

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