Murphy Capital Management Inc. cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 2.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 65,051 shares of the network equipment provider’s stock after selling 1,387 shares during the quarter. Murphy Capital Management Inc.’s holdings in Cisco Systems were worth $4,122,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CSCO. Evolution Wealth Advisors LLC lifted its holdings in Cisco Systems by 143.9% during the third quarter. Evolution Wealth Advisors LLC now owns 517 shares of the network equipment provider’s stock valued at $28,000 after purchasing an additional 305 shares during the last quarter. Lion Street Advisors LLC purchased a new stake in Cisco Systems during the second quarter valued at about $32,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. lifted its holdings in Cisco Systems by 63.9% during the third quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 590 shares of the network equipment provider’s stock valued at $32,000 after purchasing an additional 230 shares during the last quarter. Cranbrook Wealth Management LLC lifted its holdings in Cisco Systems by 41.9% during the third quarter. Cranbrook Wealth Management LLC now owns 627 shares of the network equipment provider’s stock valued at $34,000 after purchasing an additional 185 shares during the last quarter. Finally, Selective Wealth Management Inc. lifted its holdings in Cisco Systems by 244.8% during the third quarter. Selective Wealth Management Inc. now owns 669 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 475 shares during the last quarter. 71.94% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Prat Bhatt sold 468 shares of the stock in a transaction that occurred on Tuesday, December 14th. The stock was sold at an average price of $58.34, for a total transaction of $27,303.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 15,382 shares of the stock in a transaction that occurred on Thursday, February 24th. The shares were sold at an average price of $53.86, for a total value of $828,474.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,473 shares of company stock valued at $1,060,115. 0.02% of the stock is owned by insiders.
Several equities research analysts have recently weighed in on the company. Raymond James decreased their price target on Cisco Systems from $64.00 to $63.00 and set an “outperform” rating on the stock in a research report on Thursday, February 17th. Morgan Stanley upped their price target on Cisco Systems from $59.00 to $61.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 15th. Credit Suisse Group decreased their price target on Cisco Systems from $74.00 to $73.00 and set an “outperform” rating on the stock in a research report on Thursday, November 18th. Barclays upped their price target on Cisco Systems from $61.00 to $68.00 in a research report on Thursday, February 17th. Finally, Cowen upped their price target on Cisco Systems from $61.00 to $66.00 in a research report on Thursday, February 17th. Twelve research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Cisco Systems currently has an average rating of “Buy” and an average target price of $63.89.
CSCO traded up $1.40 during midday trading on Wednesday, hitting $56.02. The stock had a trading volume of 750,686 shares, compared to its average volume of 20,980,176. The company has a market cap of $232.72 billion, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 2.78 and a beta of 0.97. The business has a fifty day moving average of $58.20 and a 200 day moving average of $57.31. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.34 and a current ratio of 1.42. Cisco Systems, Inc. has a 1 year low of $44.15 and a 1 year high of $64.29.
Cisco Systems (NASDAQ:CSCO – Get Rating) last issued its earnings results on Tuesday, February 15th. The network equipment provider reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.03. The business had revenue of $12.72 billion during the quarter, compared to analyst estimates of $12.67 billion. Cisco Systems had a return on equity of 30.95% and a net margin of 22.94%. Cisco Systems’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 earnings per share. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 3.09 earnings per share for the current year.
Cisco Systems announced that its Board of Directors has approved a share repurchase program on Wednesday, February 16th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to buy up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 27th. Shareholders of record on Wednesday, April 6th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Tuesday, April 5th. This represents a $1.52 annualized dividend and a yield of 2.71%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.37. Cisco Systems’s dividend payout ratio is currently 52.86%.
Cisco Systems Profile (Get Rating)
Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its products include the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.
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