Cetera Investment Advisers grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 938,470 shares of the network equipment provider's stock after acquiring an additional 21,756 shares during the quarter. Cetera Investment Advisers' holdings in Cisco Systems were worth $55,557,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in CSCO. FPC Investment Advisory Inc. purchased a new stake in shares of Cisco Systems during the 4th quarter worth approximately $26,000. Navigoe LLC purchased a new stake in Cisco Systems in the fourth quarter valued at $26,000. Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems in the fourth quarter valued at $30,000. Campbell Capital Management Inc. purchased a new position in shares of Cisco Systems during the fourth quarter worth about $31,000. Finally, Highline Wealth Partners LLC increased its position in shares of Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock worth $35,000 after purchasing an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.
Insider Buying and Selling
In other news, CFO Richard Scott Herren sold 19,929 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $1,283,626.89. Following the transaction, the chief financial officer now directly owns 335,605 shares in the company, valued at $21,616,318.05. This trade represents a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the sale, the executive vice president now owns 191,184 shares of the company's stock, valued at $11,604,868.80. The trade was a 1.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,547 shares of company stock valued at $4,275,553. Insiders own 0.01% of the company's stock.
Cisco Systems Trading Up 0.1 %
NASDAQ:CSCO traded up $0.06 on Friday, reaching $59.77. The stock had a trading volume of 17,480,737 shares, compared to its average volume of 20,268,157. The company has a market cap of $237.78 billion, a price-to-earnings ratio of 26.10, a P/E/G ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The firm's fifty day moving average is $58.78 and its two-hundred day moving average is $59.43.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its 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%. Equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
Cisco Systems declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its stock is undervalued.
Cisco Systems Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.74%. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 3rd. Cisco Systems's payout ratio is presently 71.62%.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. Citigroup dropped their price target on Cisco Systems from $73.00 to $68.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. StockNews.com downgraded shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 5th. The Goldman Sachs Group raised their price objective on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. reduced their price objective on Cisco Systems from $73.00 to $70.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, BNP Paribas upgraded Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 target price on the stock in a research note on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.05.
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About Cisco Systems
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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.
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