CORDA Investment Management LLC. Raises Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

CORDA Investment Management LLC. increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 42.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,611 shares of the network equipment provider’s stock after buying an additional 11,451 shares during the period. CORDA Investment Management LLC.’s holdings in Cisco Systems were worth $2,286,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Cisco Systems by 10.1% during the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after acquiring an additional 5,885,879 shares in the last quarter. Two Sigma Advisers LP increased its position in Cisco Systems by 327.5% in the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock worth $362,907,000 after purchasing an additional 5,223,800 shares during the last quarter. National Bank of Canada FI raised its stake in Cisco Systems by 79.6% during the third quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock valued at $477,463,000 after purchasing an additional 3,975,028 shares in the last quarter. State Street Corp lifted its position in Cisco Systems by 1.7% during the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after purchasing an additional 3,241,682 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Cisco Systems by 87.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,541,607 shares of the network equipment provider’s stock worth $294,923,000 after buying an additional 2,591,684 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CSCO shares. Barclays upped their target price on shares of Cisco Systems from $56.00 to $61.00 and gave the company an “equal weight” rating in a research report on Thursday, February 13th. UBS Group upped their price objective on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. lifted their target price on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Wells Fargo & Company increased their price target on Cisco Systems from $60.00 to $72.00 and gave the company an “equal weight” rating in a report on Thursday, February 13th. Finally, Morgan Stanley lifted their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $66.63.

Cisco Systems Trading Down 0.4 %

CSCO opened at $63.81 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The stock’s fifty day moving average is $61.12 and its two-hundred day moving average is $56.66. The company has a market capitalization of $253.85 billion, a P/E ratio of 27.86, a PEG ratio of 4.16 and a beta of 0.84. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Thursday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is presently 71.62%.

Cisco Systems declared that its board has initiated a stock buyback program 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 programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, SVP Maria Victoria Wong sold 586 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the sale, the senior vice president now directly owns 50,767 shares in the company, valued at $2,979,515.23. This represents a 1.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Thimaya K. Subaiya sold 3,042 shares of Cisco Systems stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the transaction, the executive vice president now owns 207,798 shares in the company, valued at $12,299,563.62. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,848 shares of company stock worth $4,767,206. Corporate insiders own 0.01% 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.