US Bancorp DE Has $238.11 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

US Bancorp DE lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,022,050 shares of the network equipment provider’s stock after selling 225,534 shares during the period. US Bancorp DE owned about 0.10% of Cisco Systems worth $238,106,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp raised its holdings in shares of Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after acquiring an additional 3,241,682 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 worth $5,075,320,000 after acquiring an additional 1,262,017 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cisco Systems by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after acquiring an additional 1,677,383 shares during the last quarter. FMR LLC grew its position in Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after purchasing an additional 5,885,879 shares in the last quarter. Finally, Nordea Investment Management AB grew 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 worth $1,107,930,000 after purchasing an additional 216,632 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the subject of a number of recent analyst reports. Rosenblatt Securities raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $66.00 to $80.00 in a research report on Thursday, February 13th. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the company from $66.00 to $73.00 in a research report on Monday, January 6th. UBS Group raised their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. StockNews.com lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Finally, Morgan Stanley raised their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average price target of $66.63.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the sale, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 3,042 shares of Cisco Systems stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total transaction of $180,055.98. Following the sale, the executive vice president now directly owns 207,798 shares of the company’s stock, valued at $12,299,563.62. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,848 shares of company stock valued at $4,767,206. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 0.5 %

Shares of NASDAQ:CSCO opened at $64.14 on Friday. The firm has a fifty day moving average price of $61.23 and a two-hundred day moving average price of $56.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The company has a market cap of $255.15 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 4.16 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business 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 is an increase from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s payout ratio is currently 71.62%.

Cisco Systems declared that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.