Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Spectrum Asset Management Inc. NB CA

Spectrum Asset Management Inc. NB CA boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 64,793 shares of the network equipment provider’s stock after buying an additional 623 shares during the period. Cisco Systems makes up approximately 1.7% of Spectrum Asset Management Inc. NB CA’s portfolio, making the stock its 20th largest holding. Spectrum Asset Management Inc. NB CA’s holdings in Cisco Systems were worth $3,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. West Financial Advisors LLC lifted its position in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares during the period. Highline Wealth Partners LLC increased its position in shares of Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in Cisco Systems during the third quarter worth $40,000. Decker Retirement Planning Inc. acquired a new position in Cisco Systems in the fourth quarter valued at approximately $49,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Cisco Systems in the 3rd quarter worth about $51,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on CSCO. Citigroup increased their price objective on shares of Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a report on Friday, January 17th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Tigress Financial raised their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and increased their target price for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Finally, UBS Group boosted their price target on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.72.

Cisco Systems Trading Down 0.5 %

NASDAQ CSCO opened at $62.27 on Friday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $62.91. The firm has a market capitalization of $248.01 billion, a P/E ratio of 26.73, a PEG ratio of 4.51 and a beta of 0.84. The business has a fifty day simple moving average of $59.59 and a 200 day simple moving average of $54.82. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. During the same period in the prior year, the company posted $0.98 EPS. Cisco Systems’s revenue was down 5.6% compared to the same quarter last year. On average, analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were paid a $0.40 dividend. The ex-dividend date was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.57%. Cisco Systems’s dividend payout ratio is presently 68.67%.

Insider Activity at Cisco Systems

In other Cisco Systems news, Director Kristina M. Johnson sold 7,500 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $59.87, for a total transaction of $449,025.00. Following the transaction, the director now directly owns 65,915 shares of the company’s stock, valued at approximately $3,946,331.05. The trade was a 10.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 4,881 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total transaction of $291,542.13. Following the completion of the sale, the senior vice president now directly owns 51,931 shares in the company, valued at $3,101,838.63. This represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock valued at $20,349,721 over the last 90 days. 0.01% of the stock is owned by insiders.

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.