Princeton Capital Management LLC Has $1.02 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Princeton Capital Management LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,257 shares of the network equipment provider’s stock after selling 2,001 shares during the quarter. Princeton Capital Management LLC’s holdings in Cisco Systems were worth $1,022,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CSCO. Pflug Koory LLC increased its position in Cisco Systems by 0.5% in the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock worth $1,955,000 after purchasing an additional 165 shares during the period. Fairhaven Wealth Management LLC grew its position in shares of Cisco Systems by 2.3% during the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock worth $449,000 after buying an additional 167 shares during the period. BlackDiamond Wealth Management LLC raised its stake in shares of Cisco Systems by 3.1% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock worth $335,000 after buying an additional 168 shares during the last quarter. Maple Capital Management Inc. raised its stake in shares of Cisco Systems by 1.4% during the fourth quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock worth $709,000 after buying an additional 170 shares during the last quarter. Finally, Pathway Financial Advisors LLC lifted its holdings in Cisco Systems by 3.1% in the fourth quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider’s stock valued at $343,000 after buying an additional 172 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Insider Activity

In other Cisco Systems news, CFO Richard Scott Herren sold 19,929 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 $1,283,626.89. Following the transaction, the chief financial officer now owns 335,605 shares in the company, valued at $21,616,318.05. This represents a 5.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,547 shares of company stock valued at $4,275,553. 0.01% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on CSCO shares. JPMorgan Chase & Co. upped their target price 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. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the company from $66.00 to $73.00 in a report on Monday, January 6th. Wells Fargo & Company restated an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Rosenblatt Securities raised Cisco Systems from a “neutral” rating to a “buy” rating and upped their price target for the company from $66.00 to $80.00 in a research note on Thursday, February 13th. Finally, Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Seven investment 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.63.

Cisco Systems Trading Up 1.1 %

Cisco Systems stock opened at $60.97 on Tuesday. The stock has a 50-day simple moving average of $62.00 and a 200 day simple moving average of $58.25. The stock has a market capitalization of $242.56 billion, a P/E ratio of 26.62, a PEG 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 52 week low of $44.50 and a 52 week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results 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 return on equity of 26.08% and a net margin of 16.96%. Analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is 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. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems’s dividend payout ratio is currently 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.