Michels Family Financial LLC bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 15,810 shares of the network equipment provider's stock, valued at approximately $936,000.
Other hedge funds have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new position in Cisco Systems in the fourth quarter worth approximately $26,000. Navigoe LLC acquired a new position in shares of Cisco Systems during the fourth quarter worth approximately $26,000. Mpwm Advisory Solutions LLC bought a new position in shares of Cisco Systems in the 4th quarter worth $26,000. JDM Financial Group LLC grew its position in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after purchasing an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems during the 4th quarter valued at $30,000. 73.33% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on CSCO. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Rosenblatt Securities boosted their price objective on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Citigroup increased their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. DZ Bank raised Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. Finally, 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 research report on Tuesday, January 28th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $68.00.
Check Out Our Latest Report on Cisco Systems
Insider Activity at Cisco Systems
In other 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 directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. This trade represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeetendra I. Patel sold 9,961 shares of the company's stock in a transaction that occurred 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 sale, the insider now directly owns 257,162 shares in the company, valued at $16,450,653.14. This trade represents a 3.73% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,431 shares of company stock worth $1,421,356. 0.01% of the stock is owned by company insiders.
Cisco Systems Stock Performance
NASDAQ CSCO traded down $0.21 on Wednesday, hitting $63.55. 4,381,149 shares of the stock traded hands, compared to its average volume of 20,259,943. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The business's fifty day moving average is $59.16 and its two-hundred day moving average is $60.02. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The firm has a market capitalization of $251.64 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 4.16 and a beta of 0.89.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter in the prior year, the company earned $0.88 EPS. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
Cisco Systems Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.
Cisco Systems announced that its Board of Directors has initiated a share buyback 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 buy up to 6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.
About Cisco Systems
(
Free Report)
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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