Taylor Hoffman Capital Management LLC Buys 1,547 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Taylor Hoffman Capital Management LLC lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% in the fourth quarter, HoldingsChannel reports. The fund owned 104,638 shares of the network equipment provider’s stock after acquiring an additional 1,547 shares during the period. Cisco Systems makes up approximately 2.3% of Taylor Hoffman Capital Management LLC’s holdings, making the stock its 12th largest holding. Taylor Hoffman Capital Management LLC’s holdings in Cisco Systems were worth $6,195,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. FPC Investment Advisory Inc. bought a new position in Cisco Systems in the 4th quarter worth approximately $26,000. Navigoe LLC bought a new position in Cisco Systems in the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC bought a new position in Cisco Systems in the 4th quarter worth approximately $26,000. Runnymede Capital Advisors Inc. bought a new position in Cisco Systems in the 4th quarter worth approximately $30,000. Finally, Campbell Capital Management Inc. bought a new position in Cisco Systems in the 4th quarter worth approximately $31,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Price Performance

CSCO stock opened at $63.42 on Wednesday. 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 company has a market capitalization of $252.30 billion, a PE ratio of 27.69, a P/E/G ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The business’s fifty day moving average price is $58.89 and its 200 day moving average price is $59.81.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 EPS. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.59%. Cisco Systems’s dividend payout ratio is presently 66.94%.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 11,808 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $64.37, for a total transaction of $760,080.96. Following the sale, the executive vice president now owns 200,191 shares in the company, valued at $12,886,294.67. This represents a 5.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeetendra I. Patel sold 9,961 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.97, for a total value of $637,205.17. Following the sale, the insider now owns 257,162 shares in the company, valued at approximately $16,450,653.14. This trade represents a 3.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,239 shares of company stock worth $2,181,437. 0.01% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CSCO. Rosenblatt Securities upped their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. New Street Research reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Cisco Systems in a report on Friday, May 16th. BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Tuesday, January 28th. JPMorgan Chase & Co. upped their price objective on Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. Finally, DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.00.

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.