Centric Wealth Management Buys 1,317 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Centric Wealth Management boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 26.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,260 shares of the network equipment provider’s stock after buying 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 Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Pflug Koory LLC grew its holdings in Cisco Systems by 0.5% during the 4th quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock valued at $1,955,000 after purchasing an additional 165 shares during the last quarter. Fairhaven Wealth Management LLC grew its stake in shares of Cisco Systems by 2.3% during the fourth quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock valued at $449,000 after buying an additional 167 shares during the last quarter. BlackDiamond Wealth Management LLC raised its holdings in shares of Cisco Systems by 3.1% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock worth $335,000 after buying an additional 168 shares during the period. Maple Capital Management Inc. lifted its stake in shares of Cisco Systems by 1.4% during the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock worth $709,000 after acquiring an additional 170 shares during the last quarter. Finally, Pathway Financial Advisors LLC boosted its holdings in Cisco Systems by 3.1% during the 4th quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider’s stock valued at $343,000 after acquiring an additional 172 shares during the period. Institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Morgan Stanley raised their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. UBS Group boosted their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price target for the company from $66.00 to $80.00 in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $66.63.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. The trade was 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, CFO Richard Scott Herren sold 19,929 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 transaction of $1,283,626.89. Following the completion of the transaction, the chief financial officer now directly owns 335,605 shares of the company’s stock, valued at approximately $21,616,318.05. This represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,547 shares of company stock worth $4,275,553. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

CSCO stock opened at $61.71 on Tuesday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The firm has a market cap of $245.50 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 4.16 and a beta of 0.79. 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 firm has a 50-day simple moving average of $62.14 and a two-hundred day simple moving average of $58.69.

Cisco Systems (NASDAQ:CSCO) last announced its 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%. On average, equities analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.66%. The ex-dividend date is Thursday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is currently 71.62%.

Cisco Systems announced that its board has approved a share buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

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.