Crumly & Associates Inc. Raises Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Crumly & Associates Inc. grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,620 shares of the network equipment provider’s stock after acquiring an additional 419 shares during the period. Crumly & Associates Inc.’s holdings in Cisco Systems were worth $333,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Swedbank AB grew its holdings in shares of Cisco Systems by 0.6% in the third quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock valued at $480,555,000 after purchasing an additional 52,711 shares in the last quarter. Foundations Investment Advisors LLC grew its holdings in shares of Cisco Systems by 6.2% in the third quarter. Foundations Investment Advisors LLC now owns 25,699 shares of the network equipment provider’s stock valued at $1,368,000 after purchasing an additional 1,505 shares in the last quarter. Stanley Laman Group Ltd. grew its holdings in shares of Cisco Systems by 3.4% in the third quarter. Stanley Laman Group Ltd. now owns 9,695 shares of the network equipment provider’s stock valued at $516,000 after purchasing an additional 323 shares in the last quarter. Elevated Capital Advisors LLC acquired a new position in shares of Cisco Systems in the third quarter valued at approximately $387,000. Finally, Monte Financial Group LLC grew its holdings in shares of Cisco Systems by 9.2% in the third quarter. Monte Financial Group LLC now owns 115,135 shares of the network equipment provider’s stock valued at $6,127,000 after purchasing an additional 9,705 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Trading Down 0.3 %

Shares of Cisco Systems stock opened at $64.67 on Friday. The company has a fifty day simple moving average of $60.55 and a 200-day simple moving average of $56.01. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The stock has a market cap of $257.28 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 4.17 and a beta of 0.84. 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 (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. On average, equities analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.54%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is presently 69.87%.

Cisco Systems declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of research reports. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $73.00 in a report on Monday, January 6th. StockNews.com upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, February 14th. Rosenblatt Securities upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $80.00 in a report on Thursday, February 13th. UBS Group boosted their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Bank of America boosted their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and an average target price of $66.53.

Insiders Place Their Bets

In other news, CEO Charles Robbins sold 31,983 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total value 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 trade represents a 4.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 19,929 shares of the stock in a transaction dated Friday, February 14th. The shares were 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 owns 335,605 shares of the company’s stock, valued at $21,616,318.05. This represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,921 shares of company stock worth $4,298,667. 0.01% of the stock is owned by insiders.

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.