Nexus Investment Management Inc. grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 476,560 shares of the network equipment provider’s stock after purchasing an additional 33,575 shares during the quarter. Cisco Systems makes up approximately 3.3% of Nexus Investment Management Inc.’s portfolio, making the stock its 16th largest holding. Nexus Investment Management Inc.’s holdings in Cisco Systems were worth $18,734,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Permanens Capital L.P. purchased a new position in Cisco Systems during the fourth quarter worth approximately $31,000. Emerald Advisers LLC purchased a new position in shares of Cisco Systems in the 4th quarter valued at $38,000. Sageworth Trust Co raised its stake in shares of Cisco Systems by 59.5% in the 4th quarter. Sageworth Trust Co now owns 804 shares of the network equipment provider’s stock valued at $39,000 after acquiring an additional 300 shares during the period. Robecosam AG grew its holdings in Cisco Systems by 4.0% during the 4th quarter. Robecosam AG now owns 357,920 shares of the network equipment provider’s stock valued at $48,000 after purchasing an additional 13,621 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in Cisco Systems during the 4th quarter valued at $55,000. Institutional investors and hedge funds own 72.20% of the company’s stock.
CSCO traded down $0.74 on Friday, reaching $39.06. 21,230,797 shares of the company traded hands, compared to its average volume of 30,895,342. The stock’s 50 day moving average price is $40.84 and its 200-day moving average price is $45.60. Cisco Systems, Inc. has a 52-week low of $32.40 and a 52-week high of $58.26. The company has a market cap of $162.55 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 2.50 and a beta of 1.03. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.81 and a quick ratio of 1.75.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a yield of 3.69%. Cisco Systems’s payout ratio is presently 49.12%.
Several research analysts have recently commented on CSCO shares. Oppenheimer decreased their price target on shares of Cisco Systems from to in a report on Thursday, March 12th. Zacks Investment Research upgraded shares of Cisco Systems from a “sell” rating to a “hold” rating and set a $50.00 price target on the stock in a research report on Wednesday, January 15th. Bank of America cut shares of Cisco Systems from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 8th. Goldman Sachs Group reaffirmed a “hold” rating and issued a $48.00 price objective on shares of Cisco Systems in a research note on Thursday, February 13th. Finally, Standpoint Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Twelve equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $52.28.
In other Cisco Systems news, EVP Maria Martinez sold 5,000 shares of Cisco Systems stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $46.53, for a total value of $232,650.00. Following the completion of the sale, the executive vice president now directly owns 199,321 shares in the company, valued at $9,274,406.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles Robbins sold 3,910 shares of Cisco Systems stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $46.53, for a total transaction of $181,932.30. The disclosure for this sale can be found here. Insiders have sold 78,910 shares of company stock worth $3,296,482 over the last ninety days. 0.03% of the stock is currently owned by insiders.
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 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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