Lord Abbett & CO. LLC Buys 46,385 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Lord Abbett & CO. LLC raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,155,166 shares of the network equipment provider’s stock after purchasing an additional 46,385 shares during the quarter. Cisco Systems makes up about 1.0% of Lord Abbett & CO. LLC’s holdings, making the stock its 7th biggest holding. Lord Abbett & CO. LLC’s holdings in Cisco Systems were worth $266,703,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Kings Point Capital Management increased its position in Cisco Systems by 10.7% during the 4th quarter. Kings Point Capital Management now owns 152,212 shares of the network equipment provider’s stock valued at $6,595,000 after purchasing an additional 14,683 shares during the period. BOKF NA increased its position in Cisco Systems by 15.6% during the 4th quarter. BOKF NA now owns 714,299 shares of the network equipment provider’s stock valued at $30,951,000 after purchasing an additional 96,535 shares during the period. RMB Capital Management LLC increased its position in Cisco Systems by 21.2% during the 4th quarter. RMB Capital Management LLC now owns 68,325 shares of the network equipment provider’s stock valued at $2,961,000 after purchasing an additional 11,950 shares during the period. Thoroughbred Financial Services LLC purchased a new position in Cisco Systems during the 4th quarter valued at $2,608,000. Finally, Geode Capital Management LLC increased its position in Cisco Systems by 11.2% during the 4th quarter. Geode Capital Management LLC now owns 64,506,078 shares of the network equipment provider’s stock valued at $2,790,865,000 after purchasing an additional 6,516,314 shares during the period. 74.60% of the stock is currently owned by institutional investors and hedge funds.

Shares of Cisco Systems stock opened at $55.86 on Thursday. The stock has a market capitalization of $244.47 billion, a P/E ratio of 23.87, a PEG ratio of 2.92 and a beta of 1.21. Cisco Systems, Inc. has a 1 year low of $40.25 and a 1 year high of $57.56. The company has a current ratio of 1.69, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43.



Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.01. The company had revenue of $12.96 billion for the quarter, compared to analysts’ expectations of $12.89 billion. Cisco Systems had a net margin of 25.76% and a return on equity of 29.88%. Cisco Systems’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 EPS. As a group, analysts expect that Cisco Systems, Inc. will post 2.8 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Wednesday, July 3rd. Cisco Systems’s dividend payout ratio is currently 59.83%.

Cisco Systems declared that its board has initiated a stock buyback plan on Wednesday, February 13th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

CSCO has been the topic of a number of research analyst reports. Wells Fargo & Co reissued an “outperform” rating and set a $57.00 price objective (up from $52.00) on shares of Cisco Systems in a research report on Wednesday, February 13th. Citigroup upped their target price on shares of Cisco Systems from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, February 14th. Jefferies Financial Group upped their target price on shares of Cisco Systems to $55.00 and gave the stock a “buy” rating in a research report on Thursday, February 14th. They noted that the move was a valuation call. Bank of America reaffirmed a “buy” rating and issued a $56.00 target price on shares of Cisco Systems in a research report on Thursday, February 14th. Finally, KeyCorp upped their target price on shares of Cisco Systems from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, February 14th. Seven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Cisco Systems currently has an average rating of “Buy” and an average price target of $55.92.

In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $53.56, for a total transaction of $3,749,200.00. Following the transaction, the chief financial officer now owns 349,122 shares in the company, valued at approximately $18,698,974.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark D. Chandler sold 1,379 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $55.94, for a total transaction of $77,141.26. The disclosure for this sale can be found here. Insiders have sold a total of 75,129 shares of company stock worth $4,035,554 in the last 90 days. Company insiders own 0.03% of the company’s stock.

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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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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