Israel Discount Bank of New York Acquires Shares of 3,454 Cisco Systems, Inc. (NASDAQ:CSCO)

Israel Discount Bank of New York bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,454 shares of the network equipment provider’s stock, valued at approximately $204,000.

A number of other large investors have also recently made changes to their positions in the stock. Mainstream Capital Management LLC bought a new position in Cisco Systems in the 4th quarter worth $132,000. GAMMA Investing LLC boosted its holdings in shares of Cisco Systems by 13.1% in 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 during the period. Proficio Capital Partners LLC raised its holdings in shares of Cisco Systems by 76.4% in the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock valued at $1,003,000 after purchasing an additional 7,338 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new stake in shares of Cisco Systems during the 3rd quarter worth $502,000. Finally, Nordea Investment Management AB grew its holdings in Cisco Systems by 1.2% in the fourth quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock worth $1,107,930,000 after purchasing an additional 216,632 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CSCO shares. UBS Group increased their price objective on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Rosenblatt Securities reduced their price objective on shares of Cisco Systems from $80.00 to $63.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research report on Tuesday, January 28th. StockNews.com cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 5th. Finally, DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and a consensus price target of $64.68.

Cisco Systems Trading Up 0.7 %

Shares of NASDAQ:CSCO opened at $56.71 on Monday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The company has a market cap of $225.61 billion, a PE ratio of 24.76, a P/E/G ratio of 4.16 and a beta of 0.86. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $59.83 and its two-hundred day moving average is $59.27.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 EPS 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%. Equities analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd were issued a $0.41 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.89%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is presently 71.62%.

Cisco Systems announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Cisco Systems

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

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.