Waverly Advisors LLC Purchases 51,063 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Waverly Advisors LLC lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 32.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 208,090 shares of the network equipment provider's stock after buying an additional 51,063 shares during the period. Waverly Advisors LLC's holdings in Cisco Systems were worth $12,319,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FPC Investment Advisory Inc. bought a new position in Cisco Systems during the fourth quarter valued at approximately $26,000. Navigoe LLC purchased a new stake in shares of Cisco Systems in the fourth quarter worth $26,000. Runnymede Capital Advisors Inc. purchased a new position in Cisco Systems during the fourth quarter valued at $30,000. Campbell Capital Management Inc. purchased a new position in Cisco Systems during the fourth quarter valued at $31,000. Finally, Synergy Investment Management LLC purchased a new position in Cisco Systems during the fourth quarter valued at $36,000. Institutional investors own 73.33% of the company's stock.

Cisco Systems Trading Up 0.5%

Shares of CSCO stock opened at $63.92 on Tuesday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The firm has a 50-day moving average price of $58.82 and a 200 day moving average price of $59.78. 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 company has a market capitalization of $254.29 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued 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. The business 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%. The company's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. Research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems announced that its board has initiated a share buyback plan on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Cisco Systems Announces Dividend

The company 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. This represents a $1.64 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio is currently 66.94%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, 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 transaction, the executive vice president now owns 191,184 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the sale, the senior vice president now directly owns 44,155 shares in the company, valued at approximately $2,693,013.45. This trade represents a 1.70% 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. 0.01% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CSCO shares. StockNews.com upgraded shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday. Barclays lifted their price objective on shares of Cisco Systems from $61.00 to $66.00 and gave the company an "equal weight" rating in a report on Thursday, May 15th. Rosenblatt Securities raised their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. lifted their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Finally, New Street Research reaffirmed a "neutral" rating and issued a $70.00 price objective on shares of Cisco Systems in a research report on Friday. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $68.00.

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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