Oder Investment Management LLC Increases Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Oder Investment Management LLC boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,545 shares of the network equipment provider’s stock after purchasing an additional 529 shares during the quarter. Oder Investment Management LLC’s holdings in Cisco Systems were worth $541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Caldwell Investment Management Ltd. purchased a new stake in Cisco Systems in the fourth quarter valued at approximately $1,005,000. Prudential PLC raised its stake in Cisco Systems by 30.6% in the fourth quarter. Prudential PLC now owns 352,993 shares of the network equipment provider’s stock valued at $22,369,000 after purchasing an additional 82,667 shares in the last quarter. Equitable Holdings Inc. raised its stake in Cisco Systems by 2.6% in the fourth quarter. Equitable Holdings Inc. now owns 49,417 shares of the network equipment provider’s stock valued at $3,132,000 after purchasing an additional 1,257 shares in the last quarter. MYDA Advisors LLC purchased a new stake in Cisco Systems in the fourth quarter valued at approximately $1,521,000. Finally, Stonegate Investment Group LLC purchased a new position in shares of Cisco Systems during the fourth quarter worth approximately $81,869,000. 73.18% of the stock is currently owned by institutional investors and hedge funds.

In other Cisco Systems news, SVP Prat Bhatt sold 608 shares of the firm’s stock in a transaction dated Friday, March 11th. The stock was sold at an average price of $55.16, for a total transaction of $33,537.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 15,382 shares of Cisco Systems stock in a transaction dated Thursday, February 24th. The shares were sold at an average price of $53.86, for a total value of $828,474.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,605 shares of company stock worth $1,121,147. Company insiders own 0.02% of the company’s stock.

CSCO traded up $1.60 on Tuesday, reaching $50.60. 1,302,696 shares of the company’s stock were exchanged, compared to its average volume of 20,884,204. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.34 and a current ratio of 1.42. Cisco Systems, Inc. has a twelve month low of $47.47 and a twelve month high of $64.29. The company’s 50 day moving average is $52.86 and its 200-day moving average is $55.93. The company has a market cap of $210.20 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 2.47 and a beta of 0.99.

Cisco Systems (NASDAQ:CSCO – Get Rating) last announced its quarterly earnings data on Wednesday, February 16th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.04. Cisco Systems had a return on equity of 30.95% and a net margin of 22.94%. The firm had revenue of $12.72 billion for the quarter, compared to analysts’ expectations of $12.67 billion. During the same period last year, the business posted $0.71 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.09 EPS for the current year.

Cisco Systems announced that its board has authorized a stock buyback program on Wednesday, February 16th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 27th. Shareholders of record on Wednesday, April 6th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.00%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, April 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 54.29%.

Several research analysts have commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Cisco Systems from $70.00 to $69.00 in a research note on Thursday, January 20th. Morgan Stanley decreased their price target on shares of Cisco Systems from $61.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 12th. Loop Capital assumed coverage on shares of Cisco Systems in a research note on Monday, February 14th. They set a “buy” rating and a $71.00 price target on the stock. Wells Fargo & Company downgraded shares of Cisco Systems from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $70.00 to $65.00 in a research note on Thursday, March 10th. Finally, Citigroup downgraded shares of Cisco Systems from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $65.00 to $45.00 in a research note on Tuesday, April 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and a consensus price target of $62.44.

About Cisco Systems (Get Rating)

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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