OVERSEA CHINESE BANKING Corp Ltd Has $2.83 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,570 shares of the network equipment provider’s stock after acquiring an additional 4,619 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Cisco Systems were worth $2,825,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp grew its stake in Cisco Systems by 1.7% in 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 acquiring an additional 3,241,682 shares during the period. Geode Capital Management LLC raised its stake in shares of Cisco Systems by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock valued at $5,075,320,000 after purchasing an additional 1,262,017 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cisco Systems by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock valued at $4,402,239,000 after purchasing an additional 1,677,383 shares in the last quarter. FMR LLC boosted its position in shares of Cisco Systems by 10.1% during the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after buying an additional 5,885,879 shares during the period. Finally, Nordea Investment Management AB raised its position in 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 buying an additional 216,632 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Richard Scott Herren sold 19,929 shares of Cisco Systems stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $1,283,626.89. Following the completion of the sale, the chief financial officer now directly owns 335,605 shares in the company, valued at approximately $21,616,318.05. The trade was a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,547 shares of company stock worth $4,275,553 in the last quarter. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 1.4 %

Shares of NASDAQ:CSCO opened at $61.12 on Thursday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The stock has a market cap of $243.15 billion, a PE ratio of 26.69, a P/E/G ratio of 4.16 and a beta of 0.79. The business has a 50 day moving average of $61.89 and a 200-day moving average of $57.97. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43.

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

Cisco Systems announced that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is currently 71.62%.

Analyst Ratings Changes

A number of research firms have weighed in on CSCO. The Goldman Sachs Group upped 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. Wells Fargo & Company reiterated an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Rosenblatt Securities upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $80.00 in a report on Thursday, February 13th. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Tuesday, January 28th. Finally, DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.63.

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.