Brucke Financial Inc. Buys Shares of 4,952 Cisco Systems, Inc. (NASDAQ:CSCO)

Brucke Financial Inc. purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,952 shares of the network equipment provider's stock, valued at approximately $300,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Tallon Kerry Patrick purchased a new stake in Cisco Systems in the 4th quarter worth about $603,000. Brighton Jones LLC lifted its stake in Cisco Systems by 49.5% in the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock worth $4,392,000 after acquiring an additional 24,562 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Cisco Systems by 60.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 8,219 shares of the network equipment provider's stock worth $487,000 after acquiring an additional 3,093 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Cisco Systems by 87.5% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,706 shares of the network equipment provider's stock worth $101,000 after acquiring an additional 796 shares in the last quarter. Finally, Insight Inv LLC lifted its stake in Cisco Systems by 3.3% in the 4th quarter. Insight Inv LLC now owns 39,963 shares of the network equipment provider's stock worth $2,366,000 after acquiring an additional 1,271 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Analyst Upgrades and Downgrades

CSCO has been the subject of several research analyst reports. Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Rosenblatt Securities increased their price objective on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. BNP Paribas raised Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price objective for the company in a research note on Tuesday, January 28th. Evercore ISI increased their price objective on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Finally, DZ Bank raised Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 18th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $68.00.

Cisco Systems Stock Performance

Shares of CSCO stock traded down $0.41 during trading on Wednesday, reaching $63.34. The company had a trading volume of 13,768,093 shares, compared to its average volume of 20,305,161. The firm's 50 day simple moving average is $59.22 and its two-hundred day simple moving average is $60.04. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The company has a market capitalization of $250.83 billion, a PE ratio of 27.66, a PEG 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, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same period last year, the business earned $0.88 EPS. The firm's revenue was up 11.4% compared to the same quarter last year. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.

Cisco Systems announced that its board has initiated a share buyback plan 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 plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Activity at Cisco Systems

In other Cisco Systems news, insider Jeetendra I. Patel sold 9,961 shares of the firm'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 value of $637,205.17. Following the sale, the insider now owns 257,162 shares of the company's stock, valued at $16,450,653.14. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 sale, the executive vice president now directly owns 191,184 shares in the company, valued at $11,604,868.80. This trade represents a 1.07% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,431 shares of company stock valued at $1,421,356. Corporate 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.