Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Vident Advisory LLC

Vident Advisory LLC lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 41.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 890,130 shares of the network equipment provider's stock after acquiring an additional 260,162 shares during the period. Cisco Systems accounts for approximately 0.9% of Vident Advisory LLC's investment portfolio, making the stock its 16th biggest holding. Vident Advisory LLC's holdings in Cisco Systems were worth $52,697,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CSCO. Pflug Koory LLC increased its holdings in shares of Cisco Systems by 0.5% during the 4th quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider's stock worth $1,955,000 after purchasing 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 purchasing an additional 166 shares during the period. Fairhaven Wealth Management LLC increased its holdings in shares of Cisco Systems by 2.3% during the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider's stock worth $449,000 after purchasing an additional 167 shares during the period. BlackDiamond Wealth Management LLC increased its holdings in shares of Cisco Systems by 3.1% during the 4th 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. increased its holdings in shares of Cisco Systems by 1.4% during the 4th 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 and hedge funds.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the transaction, the senior vice president now directly owns 44,155 shares in the company, valued at $2,693,013.45. This represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the 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 owns 191,184 shares in the company, valued at $11,604,868.80. This represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,635 shares of company stock worth $931,901. Corporate insiders own 0.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CSCO shares. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $72.00 to $75.00 in a research note on Thursday. Citigroup lifted their price objective on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday. DZ Bank raised Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. Finally, The Goldman Sachs Group lifted their price objective on Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $68.00.

Cisco Systems Price Performance

Shares of CSCO stock opened at $63.62 on Monday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The firm's 50 day moving average is $58.75 and its 200-day moving average is $59.72. The firm has a market capitalization of $253.10 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 4.16 and a beta of 0.89. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

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

Cisco Systems declared that its Board of Directors has authorized a stock 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 purchase up to 6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given 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 dividend yield of 2.58%. Cisco Systems's payout ratio is 71.62%.

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.

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