Strive Asset Management LLC Invests $628,000 in Cisco Systems, Inc. (NASDAQ:CSCO)

Strive Asset Management LLC bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,602 shares of the network equipment provider's stock, valued at approximately $628,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Pflug Koory LLC raised its position in shares of Cisco Systems by 0.5% during the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider's stock worth $1,955,000 after acquiring an additional 165 shares during the last quarter. Glass Jacobson Investment Advisors llc raised its position in shares of Cisco Systems by 8.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock worth $123,000 after acquiring an additional 166 shares during the last quarter. Fairhaven Wealth Management LLC increased its holdings in Cisco Systems by 2.3% in the fourth quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider's stock valued at $449,000 after purchasing an additional 167 shares during the last quarter. BlackDiamond Wealth Management LLC increased its holdings in Cisco Systems by 3.1% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock valued at $335,000 after purchasing an additional 168 shares during the last quarter. Finally, Maple Capital Management Inc. increased its holdings in Cisco Systems by 1.4% in the fourth quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider's stock valued at $709,000 after purchasing an additional 170 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Down 0.8%

Shares of CSCO stock traded down $0.50 on Tuesday, hitting $63.42. 14,991,525 shares of the stock were exchanged, compared to its average volume of 20,368,950. 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 firm has a market capitalization of $252.30 billion, a P/E ratio of 27.69, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. The business has a 50-day moving average of $58.82 and a 200 day moving average of $59.78. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $14.05 billion. During the same period in the prior year, the firm earned $0.88 earnings per share. Cisco Systems's revenue for the quarter was up 11.4% compared to the same quarter last year. Equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.59%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Cisco Systems announced that its board has initiated a stock repurchase 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CSCO shares. BNP Paribas upgraded Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price objective for the company in a report on Tuesday, January 28th. The Goldman Sachs Group upped 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. Evercore ISI upped their price objective on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Morgan Stanley upped their price objective on Cisco Systems from $65.00 to $67.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Finally, UBS Group upped their price objective on Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $68.00.

Insider Activity at Cisco Systems

In other Cisco Systems 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 value of $125,345.50. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 11,808 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $64.37, for a total value of $760,080.96. Following the completion of the sale, the executive vice president now owns 200,191 shares in the company, valued at $12,886,294.67. This represents a 5.57% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,239 shares of company stock valued at $2,181,437. Insiders own 0.01% of the company's stock.

Cisco Systems 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.