New England Research & Management Inc. cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 13.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 74,925 shares of the network equipment provider’s stock after selling 11,225 shares during the quarter. Cisco Systems comprises approximately 2.6% of New England Research & Management Inc.’s investment portfolio, making the stock its 4th largest holding. New England Research & Management Inc.’s holdings in Cisco Systems were worth $3,247,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Holderness Investments Co. lifted its stake in shares of Cisco Systems by 2.3% in the 3rd quarter. Holderness Investments Co. now owns 68,710 shares of the network equipment provider’s stock valued at $3,343,000 after purchasing an additional 1,576 shares during the period. Johnson Financial Group Inc. lifted its stake in shares of Cisco Systems by 12.1% in the 3rd quarter. Johnson Financial Group Inc. now owns 142,844 shares of the network equipment provider’s stock valued at $6,950,000 after purchasing an additional 15,389 shares during the period. PDS Planning Inc lifted its stake in shares of Cisco Systems by 35.6% in the 3rd quarter. PDS Planning Inc now owns 5,085 shares of the network equipment provider’s stock valued at $247,000 after purchasing an additional 1,336 shares during the period. Oakwood Capital Management LLC CA lifted its stake in shares of Cisco Systems by 7.1% in the 3rd quarter. Oakwood Capital Management LLC CA now owns 166,375 shares of the network equipment provider’s stock valued at $8,094,000 after purchasing an additional 11,043 shares during the period. Finally, Torray LLC lifted its stake in shares of Cisco Systems by 1.0% in the 3rd quarter. Torray LLC now owns 531,055 shares of the network equipment provider’s stock valued at $25,836,000 after purchasing an additional 5,262 shares during the period. 69.07% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cisco Systems stock opened at $52.74 on Monday. Cisco Systems, Inc. has a one year low of $40.19 and a one year high of $54.23. The stock has a market capitalization of $254.08 billion, a P/E ratio of 22.54, a PEG ratio of 2.75 and a beta of 1.22. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.80 and a quick ratio of 1.74.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 13th. The network equipment provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Cisco Systems had a return on equity of 27.58% and a net margin of 25.31%. The business had revenue of $12.45 billion during the quarter, compared to analyst estimates of $12.43 billion. During the same period in the previous year, the company posted $0.63 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. Analysts expect that Cisco Systems, Inc. will post 2.74 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Friday, April 5th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.65%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, April 4th. Cisco Systems’s payout ratio is presently 56.41%.

Cisco Systems announced that its Board of Directors has approved a share repurchase program on Wednesday, February 13th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to purchase up to 6.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

A number of research analysts have recently issued reports on CSCO shares. Bank of America reissued a “buy” rating and issued a $56.00 price objective on shares of Cisco Systems in a research note on Thursday, February 14th. Jefferies Financial Group boosted their price objective on Cisco Systems to $55.00 and gave the company a “buy” rating in a research note on Thursday, February 14th. They noted that the move was a valuation call. Citigroup boosted their price objective on Cisco Systems from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, February 14th. Argus reissued a “buy” rating and issued a $55.00 price objective on shares of Cisco Systems in a research note on Tuesday, January 15th. Finally, Robert W. Baird reissued a “buy” rating and issued a $53.00 price objective on shares of Cisco Systems in a research note on Tuesday, February 12th. Seven equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Cisco Systems presently has an average rating of “Buy” and a consensus price target of $53.36.

In other Cisco Systems news, EVP David Goeckeler sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $52.07, for a total transaction of $1,562,100.00. Following the completion of the sale, the executive vice president now directly owns 419,439 shares of the company’s stock, valued at approximately $21,840,188.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roderick C. Mcgeary sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $49.66, for a total value of $744,900.00. Following the sale, the director now directly owns 102,898 shares of the company’s stock, valued at $5,109,914.68. The disclosure for this sale can be found here. Insiders sold a total of 115,000 shares of company stock valued at $5,926,000 over the last ninety days. 0.03% of the stock is currently owned by corporate insiders.

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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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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

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