Legacy Financial Group Inc. Buys 169 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Legacy Financial Group Inc. lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,100 shares of the network equipment provider’s stock after acquiring an additional 169 shares during the period. Legacy Financial Group Inc.’s holdings in Cisco Systems were worth $302,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. FPC Investment Advisory Inc. bought a new position in shares of Cisco Systems in the 4th quarter valued at approximately $26,000. Navigoe LLC acquired a new stake in Cisco Systems in the 4th quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems in the 4th quarter valued at approximately $26,000. JDM Financial Group LLC grew its holdings in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after buying an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Cisco Systems in the 4th quarter valued at approximately $30,000. 73.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of research analyst reports. New Street Research reaffirmed a “neutral” rating and issued a $70.00 target price on shares of Cisco Systems in a report on Friday, May 16th. StockNews.com raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. JPMorgan Chase & Co. raised their target price on Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. Morgan Stanley reaffirmed a “hold” rating on shares of Cisco Systems in a report on Wednesday. Finally, 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. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 11,808 shares of Cisco Systems stock in a transaction on Friday, February 21st. The stock was sold at an average price of $64.37, for a total value of $760,080.96. Following the completion of the transaction, the executive vice president now owns 200,191 shares in the company, valued at approximately $12,886,294.67. The trade was a 5.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the transaction, the executive vice president now owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. The trade was a 1.07% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,239 shares of company stock worth $2,181,437. 0.01% of the stock is currently owned by insiders.

Cisco Systems Price Performance

Cisco Systems stock opened at $63.20 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The company has a market capitalization of $251.43 billion, a PE ratio of 27.60, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The business has a 50 day simple moving average of $58.95 and a 200 day simple moving average of $59.83.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. The business had revenue of $14.15 billion during 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%. Cisco Systems’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned $0.88 EPS. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

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

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

Cisco Systems 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.