Wealthspire Advisors LLC Has $3.72 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Wealthspire Advisors LLC raised its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 62,842 shares of the network equipment provider’s stock after purchasing an additional 1,057 shares during the period. Wealthspire Advisors LLC’s holdings in Cisco Systems were worth $3,720,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Marshall Investment Management LLC acquired a new stake in shares of Cisco Systems in the 4th quarter valued at about $112,000. TCW Group Inc. increased its position in shares of Cisco Systems by 1.1% in the fourth quarter. TCW Group Inc. now owns 55,787 shares of the network equipment provider’s stock valued at $3,303,000 after acquiring an additional 616 shares during the last quarter. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems in the fourth quarter valued at about $26,000. Fisher Funds Management LTD acquired a new stake in shares of Cisco Systems in the fourth quarter valued at about $28,032,000. Finally, Pinnacle Financial Partners Inc increased its position in shares of Cisco Systems by 0.3% in the fourth quarter. Pinnacle Financial Partners Inc now owns 104,581 shares of the network equipment provider’s stock valued at $6,145,000 after acquiring an additional 345 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Down 1.1 %

Shares of NASDAQ:CSCO opened at $63.98 on Monday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The stock has a market cap of $254.53 billion, a PE ratio of 27.94, a P/E/G ratio of 4.16 and a beta of 0.84. The business has a 50 day moving average of $60.65 and a 200-day moving average of $56.30. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last issued 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 research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

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

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be paid a $0.41 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s payout ratio is 69.87%.

Insider Activity at Cisco Systems

In other Cisco Systems news, Director Kristina M. Johnson sold 7,500 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $59.87, for a total transaction of $449,025.00. Following the completion of the sale, the director now directly owns 65,915 shares in the company, valued at $3,946,331.05. This represents a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 31,983 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the sale, the chief executive officer now owns 736,120 shares of the company’s stock, valued at $47,413,489.20. The trade was a 4.16 % 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 worth $4,298,667. Company insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on CSCO shares. BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price on the stock in a research report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their target price on Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, StockNews.com downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday. 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 company’s stock. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average price target of $66.53.

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.