Peak Retirement Planning Inc. Invests $923,000 in Cisco Systems, Inc. (NASDAQ:CSCO)

Peak Retirement Planning Inc. purchased a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 15,579 shares of the network equipment provider's stock, valued at approximately $923,000.

Several other institutional investors have also bought and sold shares of CSCO. FPC Investment Advisory Inc. bought a new position in Cisco Systems during the fourth quarter valued at $26,000. Navigoe LLC bought a new position in Cisco Systems during the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC purchased a new stake in Cisco Systems in the 4th quarter worth about $26,000. JDM Financial Group LLC lifted its stake in Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after purchasing an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems in the fourth quarter worth about $30,000. Institutional investors own 73.33% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CSCO. Rosenblatt Securities increased their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. The Goldman Sachs Group upped their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Finally, Evercore ISI lifted their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $68.00.

Cisco Systems Stock Down 0.3%

Shares of CSCO traded down $0.21 during trading hours on Wednesday, hitting $63.55. The company had a trading volume of 4,381,149 shares, compared to its average volume of 20,259,943. The company's fifty day moving average price is $59.16 and its two-hundred day moving average price is $60.02. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $251.64 billion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The business's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 earnings per share. As a group, equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.58%. Cisco Systems's payout ratio is 66.94%.

Cisco Systems declared that its board has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other Cisco Systems 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 transaction of $125,345.50. Following the completion of the transaction, the executive vice president now directly owns 191,184 shares of the company's stock, valued at approximately $11,604,868.80. This trade represents a 1.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the sale, the insider now owns 257,162 shares in the company, valued at $16,450,653.14. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,431 shares of company stock valued at $1,421,356. Insiders own 0.01% of the company's stock.

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.