Empirical Finance LLC acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 37,873 shares of the network equipment provider’s stock, valued at approximately $1,145,000. Cisco Systems accounts for 0.8% of Empirical Finance LLC’s holdings, making the stock its 28th largest position.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CSCO. Proficio Capital Partners LLC raised its position in shares of Cisco Systems by 7.0% in the third quarter. Proficio Capital Partners LLC now owns 3,211 shares of the network equipment provider’s stock worth $102,000 after buying an additional 210 shares in the last quarter. Orrstown Financial Services Inc. raised its position in shares of Cisco Systems by 89.3% in the third quarter. Orrstown Financial Services Inc. now owns 3,243 shares of the network equipment provider’s stock worth $103,000 after buying an additional 1,530 shares in the last quarter. Reilly Financial Advisors LLC raised its position in shares of Cisco Systems by 9.5% in the third quarter. Reilly Financial Advisors LLC now owns 3,289 shares of the network equipment provider’s stock worth $104,000 after buying an additional 286 shares in the last quarter. Edmond DE Rothschild Monaco bought a new stake in Cisco Systems during the third quarter valued at about $111,000. Finally, Morgan Dempsey Capital Management LLC raised its stake in Cisco Systems by 19.5% in the third quarter. Morgan Dempsey Capital Management LLC now owns 4,080 shares of the network equipment provider’s stock valued at $129,000 after buying an additional 667 shares during the period. 75.24% of the stock is currently owned by hedge funds and other institutional investors.
Cisco Systems, Inc. (NASDAQ:CSCO) traded down 0.03% during mid-day trading on Friday, hitting $32.82. The company had a trading volume of 13,877,681 shares. Cisco Systems, Inc. has a 52 week low of $25.81 and a 52 week high of $34.53. The firm’s 50 day moving average is $33.60 and its 200 day moving average is $31.60. The company has a market capitalization of $164.36 billion, a price-to-earnings ratio of 16.92 and a beta of 1.36.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 26th. Stockholders of record on Thursday, April 6th will be issued a dividend of $0.29 per share. The ex-dividend date is Tuesday, April 4th. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.26. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.53%. Cisco Systems’s payout ratio is 49.52%.
Several analysts have recently issued reports on CSCO shares. BMO Capital Markets reissued an “outperform” rating and set a $33.00 target price on shares of Cisco Systems in a report on Thursday, January 12th. Royal Bank of Canada raised their price objective on Cisco Systems from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Thursday, February 16th. William Blair reaffirmed an “outperform” rating on shares of Cisco Systems in a research note on Thursday, February 16th. Pacific Crest reaffirmed an “overweight” rating and issued a $33.00 price objective on shares of Cisco Systems in a research note on Thursday, December 29th. Finally, Berenberg Bank started coverage on Cisco Systems in a research note on Tuesday, April 4th. They issued a “hold” rating and a $35.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Cisco Systems currently has an average rating of “Buy” and an average price target of $34.23.
In related news, Director Steven M. West acquired 3,027 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The shares were purchased at an average cost of $33.92 per share, with a total value of $102,675.84. Following the completion of the acquisition, the director now directly owns 3,700 shares of the company’s stock, valued at $125,504. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John T. Chambers sold 295,538 shares of the business’s stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $34.06, for a total transaction of $10,066,024.28. Following the sale, the insider now directly owns 1,220,581 shares in the company, valued at $41,572,988.86. The disclosure for this sale can be found here. Insiders have sold 371,807 shares of company stock worth $12,668,893 over the last three months. Corporate insiders own 0.11% of the company’s stock.
About Cisco Systems
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
