Altium Wealth Management LLC lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,678 shares of the network equipment provider’s stock after purchasing an additional 3,578 shares during the quarter. Altium Wealth Management LLC’s holdings in Cisco Systems were worth $2,109,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CSCO. Waldron Private Wealth LLC lifted its position in Cisco Systems by 1.5% in the 3rd quarter. Waldron Private Wealth LLC now owns 16,212 shares of the network equipment provider’s stock valued at $788,000 after acquiring an additional 242 shares in the last quarter. Winthrop Advisory Group LLC lifted its position in Cisco Systems by 3.9% in the 4th quarter. Winthrop Advisory Group LLC now owns 7,385 shares of the network equipment provider’s stock valued at $320,000 after acquiring an additional 278 shares in the last quarter. Mercer Capital Advisers Inc. lifted its position in Cisco Systems by 4.8% in the 4th quarter. Mercer Capital Advisers Inc. now owns 6,525 shares of the network equipment provider’s stock valued at $283,000 after acquiring an additional 300 shares in the last quarter. Gemmer Asset Management LLC lifted its position in Cisco Systems by 7.7% in the 4th quarter. Gemmer Asset Management LLC now owns 4,705 shares of the network equipment provider’s stock valued at $204,000 after acquiring an additional 337 shares in the last quarter. Finally, First PREMIER Bank lifted its position in Cisco Systems by 4.3% in the 4th quarter. First PREMIER Bank now owns 9,563 shares of the network equipment provider’s stock valued at $414,000 after acquiring an additional 390 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

In other news, EVP David Goeckeler sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $52.07, for a total transaction of $1,562,100.00. Following the completion of the sale, the executive vice president now owns 419,439 shares in the company, valued at approximately $21,840,188.73. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kelly A. Kramer sold 70,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $51.70, for a total transaction of $3,619,000.00. Following the sale, the chief financial officer now owns 420,696 shares of the company’s stock, valued at approximately $21,749,983.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,000 shares of company stock valued at $5,926,000. 0.03% of the stock is currently owned by company insiders.

Several brokerages recently weighed in on CSCO. Morgan Stanley cut shares of Cisco Systems from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $51.00 to $49.00 in a research report on Tuesday, February 12th. Wells Fargo & Co reiterated an “outperform” rating and issued a $57.00 price objective (up previously from $52.00) on shares of Cisco Systems in a research note on Wednesday, February 13th. MKM Partners increased their price objective on shares of Cisco Systems to $54.00 and gave the company a “neutral” rating in a research note on Thursday, February 14th. Argus reiterated a “buy” rating and issued a $55.00 price objective on shares of Cisco Systems in a research note on Tuesday, January 15th. Finally, KeyCorp increased their price objective on shares of Cisco Systems from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, February 14th. Seven equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $53.49.

Shares of CSCO stock opened at $55.82 on Thursday. The company has a quick ratio of 1.74, a current ratio of 1.80 and a debt-to-equity ratio of 0.39. Cisco Systems, Inc. has a 12-month low of $40.25 and a 12-month high of $55.84. The company has a market cap of $266.97 billion, a PE ratio of 23.85, a P/E/G ratio of 2.87 and a beta of 1.22.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 13th. The network equipment provider reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.01. Cisco Systems had a net margin of 25.31% and a return on equity of 27.58%. The company had revenue of $12.45 billion during the quarter, compared to analyst estimates of $12.43 billion. During the same quarter last year, the business posted $0.63 EPS. Cisco Systems’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts forecast that Cisco Systems, Inc. will post 2.75 earnings per share for the current fiscal year.

Cisco Systems declared that its board has authorized a share repurchase plan on Wednesday, February 13th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Friday, April 5th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, April 4th. This represents a $1.40 annualized dividend and a dividend yield of 2.51%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.33. Cisco Systems’s dividend payout ratio (DPR) is presently 59.83%.

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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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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