Transce3nd LLC Invests $96,000 in Cisco Systems, Inc. (NASDAQ:CSCO)

Transce3nd LLC bought a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, HoldingsChannel reports. The fund bought 1,625 shares of the network equipment provider’s stock, valued at approximately $96,000.

Other hedge funds also recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter valued at $26,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Cisco Systems during the 4th quarter worth about $30,000. Campbell Capital Management Inc. purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $31,000. Highline Wealth Partners LLC raised its position in shares of Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after buying an additional 260 shares during the last quarter. Finally, Synergy Investment Management LLC purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CSCO. StockNews.com cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. dropped their target price on Cisco Systems from $73.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Citigroup decreased their price target on Cisco Systems from $73.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Barclays reissued an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average price target of $65.58.

Insider Activity

In other news, 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 transaction of $2,060,025.03. Following the completion of the transaction, the chief executive officer now directly owns 736,120 shares in the company, valued at approximately $47,413,489.20. This represents a 4.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the transaction, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. This trade represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,547 shares of company stock worth $4,275,553 over the last ninety days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

CSCO stock opened at $54.37 on Tuesday. The stock has a 50-day simple moving average of $60.52 and a 200-day simple moving average of $59.19. The firm has a market cap of $216.30 billion, a P/E ratio of 23.74, a price-to-earnings-growth ratio of 4.16 and a beta of 0.86. 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 1 year low of $44.50 and a 1 year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued 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 net margin of 16.96% and a return on equity of 26.08%. On average, equities analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share 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 $0.41 dividend. 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 yield of 3.02%. The ex-dividend date is Thursday, April 3rd. 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 allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock buyback plans are typically 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.