Amalgamated Bank Has $46.09 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Amalgamated Bank lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 778,512 shares of the network equipment provider’s stock after selling 28,663 shares during the period. Amalgamated Bank’s holdings in Cisco Systems were worth $46,088,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CSCO. FMR LLC raised its position in Cisco Systems by 10.1% during the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after purchasing an additional 5,885,879 shares in the last quarter. Two Sigma Advisers LP raised its position in Cisco Systems by 327.5% during the 3rd quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock worth $362,907,000 after purchasing an additional 5,223,800 shares during the last quarter. Pathway Financial Advisers LLC raised its position in Cisco Systems by 5,231.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock worth $262,646,000 after purchasing an additional 4,842,542 shares during the last quarter. National Bank of Canada FI grew its holdings in Cisco Systems by 79.6% during the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock worth $477,463,000 after acquiring an additional 3,975,028 shares during the period. Finally, State Street Corp grew its holdings in Cisco Systems by 1.7% during the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after acquiring an additional 3,241,682 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

CSCO stock opened at $63.24 on Tuesday. The company has a market capitalization of $251.59 billion, a P/E ratio of 27.62, a PEG ratio of 4.16 and a beta of 0.84. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The business has a 50 day simple moving average of $60.75 and a 200-day simple moving average of $56.42. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a $0.41 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.59%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is currently 69.87%.

Insider Activity

In related news, SVP Maria Victoria Wong sold 4,881 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total transaction of $291,542.13. Following the sale, the senior vice president now owns 51,931 shares of the company’s stock, valued at $3,101,838.63. This trade represents a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 31,983 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the sale, the chief executive officer now directly owns 736,120 shares in the company, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,729 shares of company stock worth $5,058,748 over the last 90 days. 0.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CSCO shares. Barclays lifted their price target on Cisco Systems from $56.00 to $61.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. Citigroup boosted their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. UBS Group boosted their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Morgan Stanley increased their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $66.53.

Cisco Systems Company Profile

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.