SevenBridge Financial Group LLC Acquires 1,315 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

SevenBridge Financial Group LLC grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 111,640 shares of the network equipment provider’s stock after purchasing an additional 1,315 shares during the period. Cisco Systems makes up about 1.4% of SevenBridge Financial Group LLC’s portfolio, making the stock its 14th biggest position. SevenBridge Financial Group LLC’s holdings in Cisco Systems were worth $6,970,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Mainstream Capital Management LLC acquired a new position in shares of Cisco Systems during the fourth quarter worth $132,000. Morse Asset Management Inc acquired a new position in Cisco Systems in the 3rd quarter worth about $798,000. HighVista Strategies LLC bought a new position in Cisco Systems in the third quarter valued at about $1,698,000. GAMMA Investing LLC boosted its stake in shares of Cisco Systems by 13.1% during the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock valued at $5,527,000 after purchasing an additional 10,813 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in shares of Cisco Systems by 76.4% during the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock worth $1,003,000 after purchasing an additional 7,338 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Richard Scott Herren sold 19,929 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the completion of the sale, the chief financial officer now directly owns 335,605 shares in the company, valued at $21,616,318.05. This represents a 5.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 31,983 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following 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 trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,547 shares of company stock valued at $4,275,553 in the last ninety days. Company insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. UBS Group upped their price target on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. DZ Bank upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the company from $66.00 to $80.00 in a report on Thursday, February 13th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.63.

Cisco Systems Trading Up 0.1 %

Shares of CSCO stock opened at $61.80 on Wednesday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The business’s fifty day moving average is $62.16 and its 200 day moving average is $58.77. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The company has a market capitalization of $245.86 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. The ex-dividend date is Thursday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.65%. Cisco Systems’s dividend payout ratio is currently 71.62%.

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.