Cisco Systems, Inc. (NASDAQ:CSCO) is LSV Asset Management’s 3rd Largest Position

LSV Asset Management trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,395,181 shares of the network equipment provider’s stock after selling 525,423 shares during the period. Cisco Systems makes up about 1.3% of LSV Asset Management’s portfolio, making the stock its 3rd biggest position. LSV Asset Management owned about 0.24% of Cisco Systems worth $556,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of CSCO. Mainstream Capital Management LLC purchased a new position in shares of Cisco Systems in the 4th quarter valued at $132,000. GAMMA Investing LLC increased its holdings in shares of Cisco Systems by 13.1% in the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock valued at $5,527,000 after acquiring an additional 10,813 shares during the period. Proficio Capital Partners LLC increased its holdings in shares of Cisco Systems by 76.4% in the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock valued at $1,003,000 after acquiring an additional 7,338 shares during the period. Oddo BHF Asset Management Sas purchased a new position in shares of Cisco Systems in the 3rd quarter valued at $502,000. Finally, Nordea Investment Management AB increased its holdings in shares of Cisco Systems by 1.2% in the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock valued at $1,107,930,000 after acquiring an additional 216,632 shares during the period. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $58.13 on Thursday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The stock has a 50-day moving average of $61.47 and a 200 day moving average of $58.95. 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 stock has a market capitalization of $231.26 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 4.16 and a beta of 0.86.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data 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 return on equity of 26.08% and a net margin of 16.96%. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.82%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is 71.62%.

Cisco Systems declared that its Board of Directors has initiated a stock repurchase plan 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 plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

CSCO has been the topic of several research analyst reports. Citigroup restated an “overweight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $80.00 in a research note on Thursday, February 13th. StockNews.com downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 5th. BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target for the company in a research report on Tuesday, January 28th. Finally, The Goldman Sachs Group lifted their price target on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.00.

Insider Buying and Selling

In other news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares in the company, valued at approximately $2,693,013.45. The trade was a 1.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard Scott Herren sold 19,929 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the sale, the chief financial officer now owns 335,605 shares of the company’s stock, valued at $21,616,318.05. This represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,547 shares of company stock worth $4,275,553 over the last 90 days. 0.01% of the stock is owned by insiders.

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.