Citizens Financial Group Inc. RI Has $11.13 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Citizens Financial Group Inc. RI raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 38.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 220,201 shares of the network equipment provider’s stock after acquiring an additional 61,182 shares during the period. Citizens Financial Group Inc. RI’s holdings in Cisco Systems were worth $11,125,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CSCO. Waddell & Associates LLC increased its holdings in Cisco Systems by 0.8% during the 3rd quarter. Waddell & Associates LLC now owns 24,693 shares of the network equipment provider’s stock worth $1,328,000 after purchasing an additional 191 shares in the last quarter. Sax Wealth Advisors LLC increased its holdings in Cisco Systems by 3.6% during the 3rd quarter. Sax Wealth Advisors LLC now owns 5,686 shares of the network equipment provider’s stock worth $306,000 after purchasing an additional 196 shares in the last quarter. Winch Advisory Services LLC increased its holdings in Cisco Systems by 19.3% during the 3rd quarter. Winch Advisory Services LLC now owns 1,232 shares of the network equipment provider’s stock worth $66,000 after purchasing an additional 199 shares in the last quarter. Benin Management CORP grew its holdings in shares of Cisco Systems by 0.5% in the third quarter. Benin Management CORP now owns 37,543 shares of the network equipment provider’s stock valued at $2,018,000 after acquiring an additional 200 shares in the last quarter. Finally, Lodestone Wealth Management LLC grew its holdings in shares of Cisco Systems by 0.6% in the third quarter. Lodestone Wealth Management LLC now owns 36,587 shares of the network equipment provider’s stock valued at $1,967,000 after acquiring an additional 205 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CSCO. Melius Research reaffirmed a “hold” rating and issued a $55.00 target price on shares of Cisco Systems in a report on Monday, January 8th. UBS Group upped their target price on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Citigroup began coverage on Cisco Systems in a report on Friday, April 12th. They issued a “neutral” rating and a $52.00 target price for the company. Deutsche Bank Aktiengesellschaft upped their target price on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. Finally, Morgan Stanley began coverage on Cisco Systems in a report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price for the company. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems has a consensus rating of “Hold” and an average price target of $55.53.

Cisco Systems Trading Down 0.5 %

NASDAQ:CSCO opened at $47.86 on Friday. The company has a market cap of $193.79 billion, a P/E ratio of 14.55, a P/E/G ratio of 2.76 and a beta of 0.87. The stock’s fifty day moving average price is $48.94 and its two-hundred day moving average price is $50.04. Cisco Systems, Inc. has a 1 year low of $45.56 and a 1 year high of $58.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.03. The firm had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The business’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.76 earnings per share. As a group, analysts expect that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, April 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.34%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio is currently 48.63%.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares in the company, valued at $2,906,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the sale, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,441 shares of company stock worth $972,080. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems 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.