New Insight Wealth Advisors Raises Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

New Insight Wealth Advisors increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 82.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,070 shares of the network equipment provider’s stock after acquiring an additional 3,192 shares during the period. New Insight Wealth Advisors’ holdings in Cisco Systems were worth $419,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Cisco Systems by 141.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,656,617 shares of the network equipment provider’s stock valued at $157,272,000 after purchasing an additional 1,555,117 shares in the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC increased its position in Cisco Systems by 3.6% during the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 7,367 shares of the network equipment provider’s stock worth $436,000 after buying an additional 254 shares in the last quarter. Taika Capital LP increased its position in Cisco Systems by 446.4% during the fourth quarter. Taika Capital LP now owns 74,908 shares of the network equipment provider’s stock worth $4,435,000 after buying an additional 61,199 shares in the last quarter. Sound View Wealth Advisors Group LLC raised its holdings in shares of Cisco Systems by 4.4% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 44,862 shares of the network equipment provider’s stock worth $2,656,000 after acquiring an additional 1,871 shares during the last quarter. Finally, Enterprise Financial Services Corp lifted its position in shares of Cisco Systems by 7.2% in the fourth quarter. Enterprise Financial Services Corp now owns 15,012 shares of the network equipment provider’s stock valued at $889,000 after acquiring an additional 1,003 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CSCO. Bank of America boosted their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. boosted their price objective on shares of Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Barclays restated an “equal weight” rating on shares of Cisco Systems in a research report on Thursday. Citigroup reiterated an “overweight” rating on shares of Cisco Systems in a report on Thursday. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Cisco Systems in a report on Thursday. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus target price of $66.63.

Insider Activity

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 3,042 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total value of $180,055.98. Following the transaction, the executive vice president now directly owns 207,798 shares of the company’s stock, valued at $12,299,563.62. This represents a 1.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 586 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the sale, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at $2,979,515.23. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,348 shares of company stock worth $4,318,181. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Stock Up 0.8 %

Shares of Cisco Systems stock opened at $63.94 on Monday. The company has a fifty day moving average price of $61.63 and a 200 day moving average price of $57.44. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The stock has a market cap of $254.37 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems’s payout ratio is presently 71.62%.

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

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 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.