Visionary Wealth Advisors Raises Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Visionary Wealth Advisors lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 391,759 shares of the network equipment provider's stock after acquiring an additional 22,943 shares during the quarter. Cisco Systems accounts for about 1.4% of Visionary Wealth Advisors' holdings, making the stock its 10th biggest holding. Visionary Wealth Advisors' holdings in Cisco Systems were worth $23,192,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CSCO. Norges Bank purchased a new position in shares of Cisco Systems in the fourth quarter valued at about $3,297,905,000. FMR LLC increased its position in Cisco Systems by 20.8% during the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock valued at $4,571,218,000 after purchasing an additional 13,285,052 shares during the period. Raymond James Financial Inc. bought a new position in Cisco Systems in the 4th quarter worth $560,722,000. Alyeska Investment Group L.P. purchased a new stake in shares of Cisco Systems in the 4th quarter worth about $413,491,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of Cisco Systems by 187.9% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider's stock valued at $442,749,000 after buying an additional 4,880,747 shares during the period. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Performance

NASDAQ:CSCO traded down $0.50 during trading hours on Tuesday, reaching $63.42. The company had a trading volume of 14,991,525 shares, compared to its average volume of 20,368,936. The firm's 50 day moving average price is $58.89 and its 200-day moving average price is $59.81. The firm has a market cap of $252.30 billion, a price-to-earnings ratio of 27.69, 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, Inc. has a 52 week low of $44.50 and a 52 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 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion during 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%. Cisco Systems's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 earnings per share. On average, analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued 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 of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is 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 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 often a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

CSCO has been the topic of a number of research analyst reports. Rosenblatt Securities upped their target price on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Barclays upped their price target on Cisco Systems from $61.00 to $66.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 15th. UBS Group upped their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Finally, New Street Research restated a "neutral" rating and issued a $70.00 price target on shares of Cisco Systems in a research note on Friday. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $68.00.

Insider Activity at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 11,808 shares of Cisco Systems stock in a transaction on Friday, February 21st. The shares were sold at an average price of $64.37, for a total transaction of $760,080.96. Following the transaction, the executive vice president now owns 200,191 shares in the company, valued at $12,886,294.67. This trade represents a 5.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president now owns 191,184 shares of the company's stock, valued at $11,604,868.80. This trade represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,239 shares of company stock worth $2,181,437. 0.01% of the stock is owned by company insiders.

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.