CoreCap Advisors LLC Purchases 7,424 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

CoreCap Advisors LLC lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 10.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 76,865 shares of the network equipment provider's stock after buying an additional 7,424 shares during the quarter. CoreCap Advisors LLC's holdings in Cisco Systems were worth $4,550,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Pflug Koory LLC lifted its holdings in Cisco Systems by 0.5% in the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider's stock worth $1,955,000 after buying an additional 165 shares during the period. Glass Jacobson Investment Advisors llc increased its holdings in shares of Cisco Systems by 8.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock worth $123,000 after buying an additional 166 shares during the last quarter. Fairhaven Wealth Management LLC grew its stake in Cisco Systems by 2.3% in the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider's stock worth $449,000 after acquiring an additional 167 shares in the last quarter. BlackDiamond Wealth Management LLC lifted its position in shares of Cisco Systems by 3.1% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock worth $335,000 after purchasing an additional 168 shares during the period. Finally, Maple Capital Management Inc. increased its stake in Cisco Systems by 1.4% during the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider's stock valued at $709,000 after purchasing an additional 170 shares in the last quarter. Institutional investors own 73.33% of the company's stock.

Analyst Upgrades and Downgrades

CSCO has been the topic of several research reports. Evercore ISI decreased their target price on Cisco Systems from $75.00 to $67.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Rosenblatt Securities cut their price target on Cisco Systems from $80.00 to $63.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. BNP Paribas raised Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price target for the company in a report on Tuesday, January 28th. Wells Fargo & Company reissued an "equal weight" rating on shares of Cisco Systems in a research report on Thursday, March 6th. Finally, Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research note on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of "Moderate Buy" and an average target price of $65.05.

Cisco Systems Stock Performance

NASDAQ CSCO traded up $1.65 during trading hours on Monday, reaching $61.42. 9,163,155 shares of the company were exchanged, compared to its average volume of 20,257,577. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The business's 50 day simple moving average is $58.78 and its 200-day simple moving average is $59.47. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $244.33 billion, a P/E ratio of 26.80, a P/E/G ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data 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 net margin of 16.96% and a return on equity of 26.08%. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd were issued a dividend of $0.41 per share. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend was Thursday, April 3rd. Cisco Systems's payout ratio is currently 71.62%.

Cisco Systems declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 31,983 shares of the business's stock in a transaction that occurred 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 completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now owns 191,184 shares of the company's stock, valued at approximately $11,604,868.80. The trade was a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,547 shares of company stock valued at $4,275,553. Insiders own 0.01% of the company's stock.

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.