Keyvantage Wealth LLC Takes Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Keyvantage Wealth LLC bought a new stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,857 shares of the network equipment provider's stock, valued at approximately $643,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CSCO. FMR LLC raised its position in Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after purchasing an additional 13,285,052 shares in the last quarter. Norges Bank acquired a new position in shares of Cisco Systems in the 4th quarter worth approximately $3,297,905,000. Dimensional Fund Advisors LP lifted its position in shares of Cisco Systems by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider's stock worth $1,741,597,000 after buying an additional 681,555 shares during the period. Nordea Investment Management AB boosted its stake in Cisco Systems by 1.2% in the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider's stock valued at $1,107,930,000 after buying an additional 216,632 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Cisco Systems by 7.0% in the third quarter. Franklin Resources Inc. now owns 18,214,461 shares of the network equipment provider's stock valued at $988,499,000 after acquiring an additional 1,195,469 shares during the period. 73.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on CSCO. StockNews.com downgraded shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 5th. DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. UBS Group raised their target price on Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. dropped their price objective on Cisco Systems from $73.00 to $70.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Rosenblatt Securities dropped their price objective on Cisco Systems from $80.00 to $63.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $65.05.

Insiders Place Their Bets

In related news, CFO Richard Scott Herren sold 19,929 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $1,283,626.89. Following the sale, the chief financial officer now directly owns 335,605 shares of the company's stock, valued at $21,616,318.05. This trade represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction dated 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 of the company's stock, valued at $11,604,868.80. This trade represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,547 shares of company stock worth $4,275,553 in the last quarter. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded down $0.09 during trading on Monday, hitting $56.63. 7,028,833 shares of the stock were exchanged, compared to its average volume of 20,177,022. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The stock has a market capitalization of $225.27 billion, a price-to-earnings ratio of 24.72, a price-to-earnings-growth ratio of 4.16 and a beta of 0.86. The company has a fifty day moving average price of $59.83 and a 200-day moving average price of $59.27. 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 quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend was Thursday, April 3rd. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's payout ratio is presently 71.62%.

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

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.