FDx Advisors Inc. Purchases 1,921 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

FDx Advisors Inc. increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 26.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,096 shares of the network equipment provider’s stock after buying an additional 1,921 shares during the period. FDx Advisors Inc.’s holdings in Cisco Systems were worth $538,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CSCO. Pflug Koory LLC raised its stake in Cisco Systems by 0.5% during the 4th quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock worth $1,955,000 after buying an additional 165 shares during the period. Pathway Financial Advisors LLC raised its stake in Cisco Systems by 3.1% during the 4th quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider’s stock worth $343,000 after buying an additional 172 shares during the period. Beaumont Financial Advisors LLC raised its stake in Cisco Systems by 1.7% during the 4th quarter. Beaumont Financial Advisors LLC now owns 10,591 shares of the network equipment provider’s stock worth $627,000 after buying an additional 173 shares during the period. SeaCrest Wealth Management LLC raised its stake in Cisco Systems by 0.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 31,744 shares of the network equipment provider’s stock worth $1,879,000 after buying an additional 178 shares during the period. Finally, Aviso Wealth Management raised its stake in Cisco Systems by 2.4% during the 3rd quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock worth $405,000 after buying an additional 181 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on CSCO. JPMorgan Chase & Co. upped their price target on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Citigroup upped their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Wells Fargo & Company increased their price objective on Cisco Systems from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 13th. Bank of America increased their price objective on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Rosenblatt Securities raised Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $66.00 to $80.00 in a research note on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.53.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the transaction, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. This represents a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Scott Herren sold 19,929 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $1,283,626.89. Following the transaction, the chief financial officer now directly owns 335,605 shares of the company’s stock, valued at approximately $21,616,318.05. This trade represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,921 shares of company stock valued at $4,298,667. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

CSCO stock opened at $64.67 on Friday. The firm has a market cap of $257.57 billion, a PE ratio of 28.24, a P/E/G ratio of 4.16 and a beta of 0.84. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average of $60.55 and a 200-day moving average of $56.01. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50.

Cisco Systems (NASDAQ:CSCO) last released its 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, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.54%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems’s dividend payout ratio is 69.87%.

Cisco Systems announced that its board has initiated a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.