Prestige Wealth Management Group LLC Boosts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Prestige Wealth Management Group LLC boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,975 shares of the network equipment provider’s stock after purchasing an additional 848 shares during the period. Prestige Wealth Management Group LLC’s holdings in Cisco Systems were worth $650,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CSCO. Massachusetts Financial Services Co. MA bought a new position in Cisco Systems in the 3rd quarter worth $16,798,000. Larson Financial Group LLC increased its stake in Cisco Systems by 51.7% in the 3rd quarter. Larson Financial Group LLC now owns 18,664 shares of the network equipment provider’s stock worth $993,000 after acquiring an additional 6,357 shares during the last quarter. Cahill Financial Advisors Inc. purchased a new stake in Cisco Systems during the third quarter valued at $243,000. Douglass Winthrop Advisors LLC lifted its holdings in shares of Cisco Systems by 19.9% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 19,939 shares of the network equipment provider’s stock valued at $1,061,000 after acquiring an additional 3,309 shares during the last quarter. Finally, Bank of Hawaii boosted its holdings in shares of Cisco Systems by 0.5% in the 3rd quarter. Bank of Hawaii now owns 41,133 shares of the network equipment provider’s stock worth $2,189,000 after purchasing an additional 190 shares during the period. Institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

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 sale, the chief executive officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard Scott Herren sold 19,929 shares of the company’s 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 sale, 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. Insiders sold a total of 66,547 shares of company stock worth $4,275,553 in the last three months. Company insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CSCO shares. Wells Fargo & Company reiterated an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $66.00 to $80.00 in a report on Thursday, February 13th. Finally, StockNews.com lowered Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.63.

Cisco Systems Trading Up 1.1 %

Cisco Systems stock opened at $60.97 on Tuesday. The stock has a 50-day moving average of $62.00 and a two-hundred day moving average of $58.25. The stock has a market cap of $242.56 billion, a PE ratio of 26.62, a price-to-earnings-growth 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. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50.

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

Cisco Systems announced that its Board of Directors has initiated a stock 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 repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

Cisco Systems Increases Dividend

The business 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. The ex-dividend date of this dividend is Thursday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 2.69%. Cisco Systems’s payout ratio is presently 71.62%.

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.