Mackenzie Financial Corp Grows Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Mackenzie Financial Corp lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.2% during the 4th quarter, HoldingsChannel reports. The fund owned 1,734,235 shares of the network equipment provider’s stock after purchasing an additional 85,545 shares during the period. Mackenzie Financial Corp’s holdings in Cisco Systems were worth $87,614,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Wealthspire Advisors LLC increased its stake in shares of Cisco Systems by 48.1% during the third quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock worth $3,838,000 after purchasing an additional 23,194 shares in the last quarter. HBK Sorce Advisory LLC boosted its stake in Cisco Systems by 0.5% during the third quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock worth $3,448,000 after buying an additional 301 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in Cisco Systems in the 4th quarter valued at $28,685,000. Adage Capital Partners GP L.L.C. increased its stake in shares of Cisco Systems by 1.1% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock worth $240,335,000 after acquiring an additional 49,700 shares during the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC raised its holdings in shares of Cisco Systems by 0.6% during the 4th quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 192,674 shares of the network equipment provider’s stock worth $9,734,000 after acquiring an additional 1,097 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Up 0.3 %

Cisco Systems stock opened at $48.37 on Tuesday. The firm has a market capitalization of $195.86 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 2.78 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. Cisco Systems, Inc. has a fifty-two week low of $45.56 and a fifty-two week high of $58.19. The stock’s fifty day moving average is $49.22 and its two-hundred day moving average is $50.37.

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, beating analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm had revenue of $12.79 billion for the quarter, compared to analyst estimates of $12.71 billion. During the same quarter in the prior year, the company earned $0.76 EPS. Cisco Systems’s revenue was down 5.9% on a year-over-year basis. Analysts predict that Cisco Systems, Inc. will post 3.15 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Wednesday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio is currently 48.63%.

Analysts Set New Price Targets

A number of research firms recently commented on CSCO. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $55.00 to $60.00 in a report on Monday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Tuesday, April 9th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Tuesday, April 9th. Citigroup began coverage on shares of Cisco Systems in a research note on Friday. They set a “neutral” rating and a $52.00 price target on the stock. Finally, Melius lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $56.03.

Insider Activity

In other news, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the transaction, the executive vice president now owns 191,559 shares in the company, valued at $9,579,865.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the sale, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at $2,906,050. The disclosure for this sale can be found here. Insiders sold a total of 19,441 shares of company stock valued at $972,080 over the last quarter. Company insiders own 0.02% of the company’s stock.

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. 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.