Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by TCTC Holdings LLC

TCTC Holdings LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.1% in the fourth quarter, HoldingsChannel reports. The fund owned 365,321 shares of the network equipment provider’s stock after buying an additional 262 shares during the period. TCTC Holdings LLC’s holdings in Cisco Systems were worth $21,627,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in CSCO. Raymond James Financial Inc. acquired a new position in Cisco Systems during the 4th quarter worth $560,722,000. FMR LLC boosted its position in Cisco Systems by 10.1% during the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after acquiring an additional 5,885,879 shares during the period. Two Sigma Advisers LP boosted its position in Cisco Systems by 327.5% during the 3rd quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock worth $362,907,000 after acquiring an additional 5,223,800 shares during the period. National Bank of Canada FI boosted its position in Cisco Systems by 79.6% during the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock worth $477,463,000 after acquiring an additional 3,975,028 shares during the period. Finally, State Street Corp boosted its position in Cisco Systems by 1.7% during the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after acquiring an additional 3,241,682 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Up 1.4 %

NASDAQ:CSCO opened at $60.50 on Monday. The firm has a market capitalization of $240.69 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The business’s fifty day moving average price is $61.79 and its 200 day moving average price is $57.80.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share 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, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its Board of Directors has authorized a stock repurchase program on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.71%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s payout ratio is presently 71.62%.

Insiders Place Their Bets

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the transaction, the executive vice president now directly owns 191,184 shares of the company’s stock, valued at $11,604,868.80. This represents a 1.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, the chief executive officer now directly owns 736,120 shares in the company, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,547 shares of company stock valued at $4,275,553 in the last three months. Insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $66.00 to $80.00 in a report on Thursday, February 13th. UBS Group upped their price objective on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Citigroup restated an “overweight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Morgan Stanley upped their price objective on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $66.63.

Cisco Systems Company 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.