Premier Fund Managers Ltd Takes Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Premier Fund Managers Ltd purchased a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 317,956 shares of the network equipment provider’s stock, valued at approximately $14,141,000.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. grew its stake in Cisco Systems by 2.0% in the fourth quarter. BlackRock Inc. now owns 327,697,698 shares of the network equipment provider’s stock valued at $14,664,472,000 after purchasing an additional 6,274,151 shares in the last quarter. Morgan Stanley grew its stake in Cisco Systems by 3.1% in the third quarter. Morgan Stanley now owns 36,724,880 shares of the network equipment provider’s stock valued at $1,446,593,000 after purchasing an additional 1,089,231 shares in the last quarter. FMR LLC grew its stake in Cisco Systems by 1.7% in the fourth quarter. FMR LLC now owns 32,279,910 shares of the network equipment provider’s stock valued at $1,444,527,000 after purchasing an additional 535,117 shares in the last quarter. First Trust Advisors LP grew its stake in Cisco Systems by 22.8% in the third quarter. First Trust Advisors LP now owns 27,173,489 shares of the network equipment provider’s stock valued at $1,070,364,000 after purchasing an additional 5,044,447 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in Cisco Systems by 2.6% in the third quarter. Fisher Asset Management LLC now owns 20,969,760 shares of the network equipment provider’s stock valued at $825,999,000 after purchasing an additional 528,568 shares in the last quarter. Institutional investors and hedge funds own 70.62% of the company’s stock.

In other news, CEO Charles Robbins sold 8,497 shares of the company’s stock in a transaction that occurred on Wednesday, February 17th. The stock was sold at an average price of $46.20, for a total value of $392,561.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kelly A. Kramer sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, November 27th. The shares were sold at an average price of $42.81, for a total value of $1,926,450.00. Following the completion of the sale, the chief financial officer now owns 297,078 shares in the company, valued at $12,717,909.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,530 shares of company stock valued at $3,338,858. Insiders own 0.02% of the company’s stock.

CSCO has been the topic of a number of recent research reports. Oppenheimer restated a “buy” rating and issued a $50.00 target price on shares of Cisco Systems in a research note on Tuesday, February 9th. Credit Suisse Group boosted their price target on Cisco Systems from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 10th. Raymond James boosted their price target on Cisco Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 10th. JPMorgan Chase & Co. boosted their price target on Cisco Systems from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, January 25th. Finally, New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Friday, November 13th. Sixteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $48.63.

Cisco Systems stock traded up $0.06 during trading hours on Tuesday, hitting $45.49. The stock had a trading volume of 282,749 shares, compared to its average volume of 21,138,654. The company has a 50-day moving average of $45.85 and a two-hundred day moving average of $42.51. The company has a quick ratio of 1.54, a current ratio of 1.59 and a debt-to-equity ratio of 0.25. The company has a market cap of $192.05 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 2.54 and a beta of 0.95. Cisco Systems, Inc. has a fifty-two week low of $32.40 and a fifty-two week high of $49.34.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Tuesday, February 9th. The network equipment provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.76 by $0.03. Cisco Systems had a return on equity of 32.64% and a net margin of 21.76%. During the same period in the previous year, the business posted $0.77 earnings per share. As a group, analysts forecast that Cisco Systems, Inc. will post 2.86 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 28th. Shareholders of record on Tuesday, April 6th will be issued a $0.37 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, April 5th. This represents a $1.48 annualized dividend and a yield of 3.25%. Cisco Systems’s dividend payout ratio is 49.32%.

About Cisco Systems

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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