Fortis Group Advisors LLC Acquires 251 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Fortis Group Advisors LLC lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,175 shares of the network equipment provider’s stock after purchasing an additional 251 shares during the quarter. Fortis Group Advisors LLC’s holdings in Cisco Systems were worth $322,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CSCO. Mcintyre Freedman & Flynn Investment Advisers Inc. increased its holdings in shares of Cisco Systems by 0.3% in the fourth quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock worth $3,019,000 after purchasing an additional 202 shares during the last quarter. Hyman Charles D raised its position in Cisco Systems by 0.3% during the 4th quarter. Hyman Charles D now owns 70,727 shares of the network equipment provider’s stock valued at $3,573,000 after purchasing an additional 203 shares in the last quarter. Madrona Financial Services LLC lifted its stake in Cisco Systems by 2.4% in the fourth quarter. Madrona Financial Services LLC now owns 8,970 shares of the network equipment provider’s stock worth $453,000 after acquiring an additional 207 shares during the period. Morton Brown Family Wealth LLC raised its stake in Cisco Systems by 41.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after buying an additional 208 shares in the last quarter. Finally, River Street Advisors LLC boosted its position in Cisco Systems by 1.7% during the fourth quarter. River Street Advisors LLC now owns 12,921 shares of the network equipment provider’s stock valued at $653,000 after purchasing an additional 219 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Price Performance

CSCO stock traded up $0.16 on Friday, hitting $45.68. 15,274,176 shares of the company’s stock traded hands, compared to its average volume of 19,183,470. Cisco Systems, Inc. has a 1-year low of $44.97 and a 1-year high of $58.19. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The stock has a market cap of $184.04 billion, a price-to-earnings ratio of 15.38, a P/E/G ratio of 2.64 and a beta of 0.85. The stock has a fifty day moving average of $47.41 and a 200-day moving average of $48.90.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter in the prior year, the company posted $0.88 EPS. The firm’s revenue was down 12.8% on a year-over-year basis. On average, analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be given a $0.40 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.60 annualized dividend and a dividend yield of 3.50%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insider Activity at Cisco Systems

In related news, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the sale, the chief executive officer now owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Deborah L. Stahlkopf sold 8,016 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the transaction, the executive vice president now owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the transaction, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,106 shares of company stock worth $1,908,923. 0.02% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CSCO. Deutsche Bank Aktiengesellschaft lifted their price target on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. began coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price objective for the company. Barclays upped their target price on shares of Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, May 17th. BNP Paribas raised Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective on the stock in a report on Monday, May 13th. Finally, Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $55.00 to $60.00 in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $56.47.

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.