5,545 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Acquired by Fire Capital Management LLC

Fire Capital Management LLC acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,545 shares of the network equipment provider's stock, valued at approximately $328,000.

Other hedge funds have also modified their holdings of the company. Mainstream Capital Management LLC bought a new stake in shares of Cisco Systems during the fourth quarter worth approximately $132,000. Proficio Capital Partners LLC increased its holdings in shares of Cisco Systems by 76.4% during the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock worth $1,003,000 after acquiring an additional 7,338 shares during the last quarter. CENTRAL TRUST Co boosted its position in Cisco Systems by 4.8% during the fourth quarter. CENTRAL TRUST Co now owns 112,101 shares of the network equipment provider's stock worth $6,636,000 after purchasing an additional 5,123 shares during the period. Investment Management Corp of Ontario increased its holdings in shares of Cisco Systems by 44.6% in the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock valued at $11,454,000 after purchasing an additional 59,680 shares during the last quarter. Finally, Aveo Capital Partners LLC raised its position in shares of Cisco Systems by 8.3% in the fourth quarter. Aveo Capital Partners LLC now owns 5,296 shares of the network equipment provider's stock valued at $314,000 after purchasing an additional 407 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. UBS Group lifted their target price on Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. increased their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. The Goldman Sachs Group upped their price objective on Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Finally, 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. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $68.00.

Insider Buying and Selling at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the company'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 sale, the executive vice president now directly owns 191,184 shares of the company's stock, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 4,185 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total transaction of $265,789.35. Following the completion of the transaction, the senior vice president now owns 38,103 shares of the company's stock, valued at approximately $2,419,921.53. This trade represents a 9.90% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,616 shares of company stock valued at $2,640,095. Company insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

CSCO traded down $0.24 during trading on Friday, hitting $62.81. 25,829,006 shares of the stock were exchanged, compared to its average volume of 20,320,905. The firm has a market capitalization of $248.73 billion, a P/E ratio of 27.43, a PEG ratio of 4.16 and a beta of 0.89. The stock has a fifty day moving average price of $59.30 and a two-hundred day moving average price of $60.10. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its 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 company had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 EPS. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current 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. This represents a $1.64 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio is currently 66.94%.

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

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.