Wealthspire Advisors LLC Purchases 1,057 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Wealthspire Advisors LLC grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,842 shares of the network equipment provider’s stock after acquiring an additional 1,057 shares during the quarter. Wealthspire Advisors LLC’s holdings in Cisco Systems were worth $3,720,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CSCO. State Street Corp raised its holdings in shares of Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after buying an additional 3,241,682 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Cisco Systems by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after buying an additional 1,262,017 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cisco Systems by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after buying an additional 1,677,383 shares in the last quarter. FMR LLC raised its holdings in shares of Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after buying an additional 5,885,879 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Cisco Systems by 1.2% in the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock worth $1,107,930,000 after buying an additional 216,632 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Down 1.1 %

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 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 capitalization of $254.53 billion, a P/E ratio of 27.94, a P/E/G ratio of 4.16 and a beta of 0.84. The stock’s fifty day simple moving average is $60.65 and its 200-day simple moving average is $56.30.

Cisco Systems (NASDAQ:CSCO) last posted 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 return on equity of 26.08% and a net margin of 16.96%. Equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a $0.41 dividend. This is a positive change 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 of this dividend is Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 69.87%.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CSCO shares. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Morgan Stanley raised their price target on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Tuesday, January 28th. Barclays raised their price target on Cisco Systems from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Thursday, February 13th. Finally, Bank of America raised their price target on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.53.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 31,983 shares of the firm’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 transaction, the chief executive officer now directly owns 736,120 shares in the company, valued at $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 available at this link. Also, Director Kristina M. Johnson sold 7,500 shares of Cisco Systems stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the transaction, the director now owns 65,915 shares in the company, valued at approximately $3,946,331.05. This represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,921 shares of company stock worth $4,298,667 in the last three months. Insiders own 0.01% of the company’s stock.

Cisco Systems 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.