Loews Corp maintained its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 500,000 shares of the network equipment provider’s stock at the end of the fourth quarter. Cisco Systems comprises about 0.1% of Loews Corp’s holdings, making the stock its 11th largest position. Loews Corp’s holdings in Cisco Systems were worth $15,110,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CSCO. Proficio Capital Partners LLC increased its position in shares of Cisco Systems by 7.0% in the third quarter. Proficio Capital Partners LLC now owns 3,211 shares of the network equipment provider’s stock worth $102,000 after buying an additional 210 shares during the period. Orrstown Financial Services Inc. increased its position in shares of Cisco Systems by 89.3% in the third quarter. Orrstown Financial Services Inc. now owns 3,243 shares of the network equipment provider’s stock worth $103,000 after buying an additional 1,530 shares during the period. Reilly Financial Advisors LLC increased its position in shares of Cisco Systems by 9.5% in the third quarter. Reilly Financial Advisors LLC now owns 3,289 shares of the network equipment provider’s stock worth $104,000 after buying an additional 286 shares during the period. Edmond DE Rothschild Monaco purchased a new position in shares of Cisco Systems during the third quarter worth approximately $111,000. Finally, Morgan Dempsey Capital Management LLC increased its position in shares of Cisco Systems by 19.5% in the third quarter. Morgan Dempsey Capital Management LLC now owns 4,080 shares of the network equipment provider’s stock worth $129,000 after buying an additional 667 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at 34.08 on Friday. The company has a market capitalization of $170.67 billion, a price-to-earnings ratio of 17.57 and a beta of 1.36. The company’s 50-day moving average price is $33.51 and its 200-day moving average price is $31.35. Cisco Systems, Inc. has a 52-week low of $25.81 and a 52-week high of $34.53.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 15th. The network equipment provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. Cisco Systems had a return on equity of 17.50% and a net margin of 21.73%. The company earned $11.60 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. Equities research analysts forecast that Cisco Systems, Inc. will post $2.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 26th. Stockholders of record on Thursday, April 6th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Tuesday, April 4th. This is a boost from Cisco Systems’s previous quarterly dividend of $0.26. Cisco Systems’s payout ratio is currently 49.52%.
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A number of research analysts have commented on the company. Raymond James Financial, Inc. restated an “outperform” rating on shares of Cisco Systems in a research note on Friday, February 17th. Robert W. Baird restated a “buy” rating on shares of Cisco Systems in a research note on Wednesday, January 25th. Wells Fargo & Co restated an “overweight” rating on shares of Cisco Systems in a research note on Saturday, January 28th. Vetr downgraded Cisco Systems from a “hold” rating to a “sell” rating and set a $31.80 price target for the company. in a research note on Thursday, February 16th. Finally, OTR Global upgraded Cisco Systems from a “mixed” rating to a “positive” rating in a research note on Thursday, February 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $34.14.
In other news, Director Roderick C. Mcgeary sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $34.07, for a total transaction of $340,700.00. Following the completion of the sale, the director now owns 122,721 shares in the company, valued at $4,181,104.47. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Steven M. West acquired 3,027 shares of Cisco Systems stock in a transaction dated Wednesday, February 22nd. The shares were purchased at an average price of $33.92 per share, with a total value of $102,675.84. Following the acquisition, the director now owns 3,700 shares of the company’s stock, valued at $125,504. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 371,807 shares of company stock valued at $12,668,893. Corporate insiders own 0.11% of the company’s stock.
Cisco Systems Company 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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