Arnhold LLC Has $23.64 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

by · The Markets Daily

Arnhold LLC lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 7.5% during the fourth quarter, HoldingsChannel reports. The firm owned 399,359 shares of the network equipment provider’s stock after selling 32,151 shares during the quarter. Cisco Systems comprises 2.3% of Arnhold LLC’s holdings, making the stock its 11th largest holding. Arnhold LLC’s holdings in Cisco Systems were worth $23,642,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CSCO. FPC Investment Advisory Inc. acquired a new stake in Cisco Systems during the 4th quarter worth approximately $26,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Cisco Systems during the fourth quarter worth $30,000. Campbell Capital Management Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter worth $31,000. Highline Wealth Partners LLC lifted its position in Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after acquiring an additional 260 shares in the last quarter. Finally, Synergy Investment Management LLC acquired a new position in Cisco Systems in the 4th quarter worth $36,000. Institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a research note on Tuesday, January 28th. JPMorgan Chase & Co. dropped their target price on Cisco Systems from $73.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. StockNews.com downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 5th. Finally, Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.68.

View Our Latest Stock Analysis on Cisco Systems

Cisco Systems Trading Up 1.2 %

Shares of CSCO stock opened at $56.29 on Friday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The company has a market capitalization of $223.94 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 4.16 and a beta of 0.86. The firm has a 50 day moving average price of $59.99 and a two-hundred day moving average price of $59.16. 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 – Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. As a group, analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd were paid a $0.41 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $1.64 annualized dividend and a yield of 2.91%. Cisco Systems’s payout ratio is 71.62%.

Cisco Systems declared that its board has approved a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was 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 directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. This represents a 1.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, the chief executive officer now owns 736,120 shares in the company, valued at $47,413,489.20. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,547 shares of company stock valued at $4,275,553 in the last quarter. Company insiders own 0.01% of the company’s stock.

About Cisco Systems

(Free Report)

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.

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