Heritage Wealth Management Inc. CA Buys 4,110 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Heritage Wealth Management Inc. CA lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 121.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,502 shares of the network equipment provider’s stock after purchasing an additional 4,110 shares during the quarter. Heritage Wealth Management Inc. CA’s holdings in Cisco Systems were worth $444,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of Cisco Systems during the fourth quarter valued at about $560,722,000. FMR LLC boosted its position in shares of Cisco Systems by 10.1% in the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after acquiring an additional 5,885,879 shares during the period. Two Sigma Advisers LP grew its stake in Cisco Systems by 327.5% during the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock valued at $362,907,000 after acquiring an additional 5,223,800 shares in the last quarter. National Bank of Canada FI increased its holdings in Cisco Systems by 79.6% during the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock worth $477,463,000 after acquiring an additional 3,975,028 shares during the period. Finally, State Street Corp lifted its stake in Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after purchasing an additional 3,241,682 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 1.1 %

CSCO opened at $60.97 on Tuesday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The business’s 50-day moving average price is $62.00 and its 200-day moving average price is $58.25. The company has a market cap of $242.56 billion, a P/E ratio of 26.62, a P/E/G ratio of 4.16 and a beta of 0.79.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results 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 expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently declared 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 of this dividend is Thursday, April 3rd. This represents a $1.64 annualized dividend and a yield of 2.69%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is presently 71.62%.

Cisco Systems announced that its board has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have recently weighed in on CSCO. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. The Goldman Sachs Group upped their target price on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a report on Tuesday, January 28th. Citigroup reissued an “overweight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Finally, StockNews.com downgraded shares of 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 assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and an average price target of $66.63.

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 31,983 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the transaction, the senior vice president now owns 44,155 shares in the company, valued at approximately $2,693,013.45. This represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,547 shares of company stock valued at $4,275,553 in the last quarter. Insiders own 0.01% of the company’s stock.

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.