Cornerstone Select Advisors LLC Takes $1.77 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Cornerstone Select Advisors LLC bought a new stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 29,931 shares of the network equipment provider's stock, valued at approximately $1,772,000. Cisco Systems makes up 1.7% of Cornerstone Select Advisors LLC's holdings, making the stock its 14th biggest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CSCO. Pflug Koory LLC raised its stake 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 valued at $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% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock worth $123,000 after acquiring an additional 166 shares during the last quarter. Fairhaven Wealth Management LLC raised 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 valued at $449,000 after acquiring an additional 167 shares during the period. BlackDiamond Wealth Management LLC boosted its position in Cisco Systems by 3.1% during the fourth 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. boosted its position in Cisco Systems by 1.4% during the fourth quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider's stock worth $709,000 after purchasing an additional 170 shares during the period. 73.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of research reports. StockNews.com cut shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 5th. Barclays restated an "equal weight" rating on shares of Cisco Systems in a research report on Thursday, March 6th. Citigroup decreased their target price on Cisco Systems from $73.00 to $68.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Rosenblatt Securities reduced their price target on Cisco Systems from $80.00 to $63.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, UBS Group increased their price objective on Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $65.05.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the transaction, the executive vice president now owns 191,184 shares in the company, valued at $11,604,868.80. This trade represents a 1.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 19,929 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the sale, the chief financial officer now directly owns 335,605 shares in the company, valued at $21,616,318.05. The trade was a 5.61 % 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 worth $4,275,553. Insiders own 0.01% of the company's stock.

Cisco Systems Price Performance

Cisco Systems stock opened at $59.31 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The stock has a market capitalization of $235.96 billion, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. The stock has a fifty day moving average of $59.02 and a 200-day moving average of $59.38.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued 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%. On average, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently declared 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. The ex-dividend date was Thursday, April 3rd. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.77%. Cisco Systems's dividend payout ratio is 71.62%.

Cisco Systems announced that its Board of Directors has authorized a stock 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 reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

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.

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