Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 38.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 220,201 shares of the network equipment provider’s stock after buying an additional 61,182 shares during the period. Citizens Financial Group Inc. RI’s holdings in Cisco Systems were worth $11,125,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Kathleen S. Wright Associates Inc. acquired a new position in shares of Cisco Systems during the third quarter valued at $27,000. Valued Wealth Advisors LLC acquired a new position in shares of Cisco Systems during the fourth quarter valued at $32,000. Morton Brown Family Wealth LLC increased its holdings in shares of Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 208 shares during the period. Bourgeon Capital Management LLC increased its holdings in shares of Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 700 shares during the period. Finally, Rakuten Securities Inc. acquired a new position in shares of Cisco Systems during the fourth quarter valued at $43,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and raised their target price for the company from $55.00 to $60.00 in a research note on Monday, April 15th. StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. assumed coverage on Cisco Systems in a research note on Monday, April 22nd. They set a “neutral” rating and a $53.00 target price for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Finally, Citigroup assumed coverage on Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 target price for the company. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $55.53.

Cisco Systems Stock Down 0.5 %

CSCO opened at $47.86 on Friday. Cisco Systems, Inc. has a fifty-two week low of $45.56 and a fifty-two week high of $58.19. The business has a 50-day moving average of $48.94 and a 200-day moving average of $50.04. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The company has a market capitalization of $193.79 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 2.76 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping 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 company had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. During the same period last year, the business earned $0.76 EPS. The business’s quarterly revenue was down 5.9% on a year-over-year basis. Equities research analysts forecast that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.34%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 48.63%.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,441 shares of company stock valued at $972,080. Corporate insiders own 0.02% 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.