Yacktman Asset Management LP Has $69.84 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Yacktman Asset Management LP decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.3% during the 4th quarter, HoldingsChannel reports. The fund owned 1,179,744 shares of the network equipment provider’s stock after selling 27,170 shares during the period. Yacktman Asset Management LP’s holdings in Cisco Systems were worth $69,841,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CSCO. Cardinal Strategic Wealth Guidance boosted its stake in shares of Cisco Systems by 20.3% during the fourth quarter. Cardinal Strategic Wealth Guidance now owns 6,614 shares of the network equipment provider’s stock valued at $392,000 after purchasing an additional 1,115 shares in the last quarter. New Republic Capital LLC boosted its position in Cisco Systems by 8.1% during the 4th quarter. New Republic Capital LLC now owns 11,282 shares of the network equipment provider’s stock worth $668,000 after buying an additional 842 shares during the period. JSF Financial LLC bought a new stake in Cisco Systems during the 4th quarter worth approximately $255,000. Atlantic Edge Private Wealth Management LLC increased its position in Cisco Systems by 3.2% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 47,071 shares of the network equipment provider’s stock valued at $2,787,000 after acquiring an additional 1,447 shares during the period. Finally, Sovran Advisors LLC acquired a new position in shares of Cisco Systems during the fourth quarter worth $541,000. Institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kristina M. Johnson sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the completion of the sale, the director now owns 65,915 shares in the company, valued at $3,946,331.05. The trade was a 10.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 353,522 shares of company stock worth $20,349,721. Company insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Citigroup raised their price objective on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Barclays upped their target price on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. 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 report on Tuesday, December 17th. Finally, BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price for the company in a report on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and an average target price of $62.72.

Cisco Systems Stock Performance

Cisco Systems stock opened at $62.81 on Tuesday. The firm has a market cap of $250.16 billion, a P/E ratio of 26.96, a P/E/G ratio of 4.63 and a beta of 0.84. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $63.25. The firm has a 50-day moving average of $59.71 and a 200-day moving average of $55.10. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter in the previous year, the business posted $0.98 earnings per share. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. Sell-side analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were issued a $0.40 dividend. The ex-dividend date was Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.55%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

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.