Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Centric Wealth Management

Centric Wealth Management boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 26.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,260 shares of the network equipment provider’s stock after purchasing an additional 1,317 shares during the quarter. Centric Wealth Management’s holdings in Cisco Systems were worth $371,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. FPC Investment Advisory Inc. acquired a new stake in Cisco Systems during the fourth quarter worth about $26,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Cisco Systems during the 4th quarter worth approximately $30,000. Campbell Capital Management Inc. purchased a new position in shares of Cisco Systems during the 4th quarter valued at approximately $31,000. Highline Wealth Partners LLC lifted its stake 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 valued at $35,000 after purchasing an additional 260 shares during the period. Finally, Synergy Investment Management LLC purchased a new stake in Cisco Systems during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Rosenblatt Securities upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $66.00 to $80.00 in a research report on Thursday, February 13th. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. StockNews.com cut Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 5th. BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price for the company in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.63.

Cisco Systems Stock Up 1.4 %

NASDAQ CSCO opened at $61.71 on Tuesday. The business’s fifty day simple moving average is $62.14 and its 200-day simple moving average is $58.69. 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 firm has a market cap of $245.50 billion, a PE ratio of 26.95, a P/E/G ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share 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 anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is 71.62%.

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

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the sale, the chief executive officer now owns 736,120 shares in the company, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the transaction, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. This trade represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is currently owned by company 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.