11,949 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Bought by Yoffe Investment Management LLC

Yoffe Investment Management LLC bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 11,949 shares of the network equipment provider's stock, valued at approximately $707,000. Cisco Systems makes up about 1.0% of Yoffe Investment Management LLC's holdings, making the stock its 28th biggest holding.

Other hedge funds have also recently made changes to their positions in the company. Mainstream Capital Management LLC purchased a new stake in Cisco Systems in the fourth quarter worth about $132,000. Proficio Capital Partners LLC grew its stake in 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 valued at $1,003,000 after purchasing an additional 7,338 shares during the last quarter. CENTRAL TRUST Co raised its holdings in Cisco Systems by 4.8% in the 4th 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. Requisite Capital Management LLC acquired a new position in Cisco Systems in the 4th quarter worth about $1,670,000. Finally, Stonegate Investment Group LLC raised its holdings in shares of Cisco Systems by 0.8% during the fourth quarter. Stonegate Investment Group LLC now owns 1,539,557 shares of the network equipment provider's stock valued at $91,142,000 after acquiring an additional 11,506 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction 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 of the company's stock, valued at approximately $2,693,013.45. The trade was a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction 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 completion of the transaction, the executive vice president now directly 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. Insiders sold a total of 41,616 shares of company stock valued at $2,640,095 over the last 90 days. Insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

CSCO traded down $0.24 during midday trading on Friday, reaching $62.81. The company had a trading volume of 25,829,006 shares, compared to its average volume of 20,320,818. The business has a 50-day moving average price of $59.30 and a two-hundred day moving average price of $60.10. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The stock has a market cap of $248.73 billion, a PE ratio of 27.43, a P/E/G ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate 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 net margin of 16.96% and a return on equity of 26.08%. The firm'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 company posted $0.88 EPS. On average, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Cisco Systems Announces Dividend

The firm also recently declared 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 2.61%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.

Analysts Set New Price Targets

CSCO has been the topic of a number of research analyst reports. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. UBS Group boosted their target price on Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. New Street Research reissued a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research note on Friday, May 16th. Rosenblatt Securities upped their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, Evercore ISI raised their price objective on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.