Redwood Investment Management LLC Has $2.18 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Redwood Investment Management LLC increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 291.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,728 shares of the network equipment provider’s stock after buying an additional 32,563 shares during the quarter. Redwood Investment Management LLC’s holdings in Cisco Systems were worth $2,182,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CSCO. AdvisorNet Financial Inc boosted its stake in shares of Cisco Systems by 16.9% in the 4th quarter. AdvisorNet Financial Inc now owns 13,457 shares of the network equipment provider’s stock worth $680,000 after buying an additional 1,946 shares during the last quarter. Bank Hapoalim BM increased its stake in Cisco Systems by 7.6% in the fourth quarter. Bank Hapoalim BM now owns 9,581 shares of the network equipment provider’s stock valued at $484,000 after acquiring an additional 674 shares during the last quarter. Opal Wealth Advisors LLC increased its stake in Cisco Systems by 2.9% in the fourth quarter. Opal Wealth Advisors LLC now owns 16,330 shares of the network equipment provider’s stock valued at $825,000 after acquiring an additional 460 shares during the last quarter. Center For Asset Management LLC bought a new position in shares of Cisco Systems during the fourth quarter valued at about $1,024,000. Finally, Harrell Investment Partners LLC grew its stake in shares of Cisco Systems by 3.1% during the fourth quarter. Harrell Investment Partners LLC now owns 92,379 shares of the network equipment provider’s stock valued at $4,667,000 after buying an additional 2,781 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO traded up $0.31 during trading hours on Wednesday, reaching $48.45. 19,945,305 shares of the company’s stock were exchanged, compared to its average volume of 19,544,416. The firm has a market capitalization of $195.20 billion, a price-to-earnings ratio of 16.31, a P/E/G ratio of 2.78 and a beta of 0.85. The company has a 50-day moving average of $46.79 and a 200 day moving average of $48.32. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a 1-year low of $44.95 and a 1-year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter last year, the firm posted $0.88 EPS. The business’s revenue was down 12.8% compared to the same quarter last year. Research analysts anticipate that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.30%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insider Activity

In other news, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the transaction, the chief executive officer now owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the sale, the chief executive officer now owns 725,363 shares in the company, valued at approximately $33,439,234.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 3,378 shares of Cisco Systems stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total value of $155,016.42. Following the transaction, the senior vice president now directly owns 52,953 shares in the company, valued at approximately $2,430,013.17. The disclosure for this sale can be found here. Insiders have sold 41,106 shares of company stock worth $1,908,923 over the last 90 days. Company insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup began coverage on shares of Cisco Systems in a report on Friday, April 12th. They set a “neutral” rating and a $52.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their price target on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Monday, June 10th. JPMorgan Chase & Co. initiated coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 target price for the company. Finally, Oppenheimer lifted their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $56.47.

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 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.