1,480 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Purchased by Pinney & Scofield Inc.

Pinney & Scofield Inc. acquired a new position in Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,480 shares of the network equipment provider’s stock, valued at approximately $88,000.

A number of other large investors have also modified their holdings of CSCO. Norges Bank acquired a new stake in shares of Cisco Systems in the 4th quarter worth about $3,297,905,000. FMR LLC increased its holdings in shares of Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock worth $4,571,218,000 after acquiring an additional 13,285,052 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Cisco Systems in the 4th quarter worth about $560,722,000. Alyeska Investment Group L.P. acquired a new stake in shares of Cisco Systems in the 4th quarter worth about $413,491,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Cisco Systems by 187.9% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider’s stock worth $442,749,000 after acquiring an additional 4,880,747 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO opened at $63.11 on Friday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The company has a 50-day moving average of $59.05 and a two-hundred day moving average of $59.93. The stock has a market cap of $251.07 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 4.16 and a beta of 0.89. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

Cisco Systems (NASDAQ:CSCO) last announced 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. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same period last year, the company posted $0.88 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s payout ratio is 66.94%.

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

Analyst Upgrades and Downgrades

Several research firms have commented on CSCO. Citigroup raised their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. raised their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, May 15th. Rosenblatt Securities raised their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. The Goldman Sachs Group raised their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Insiders Place Their Bets

In related news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 44,155 shares in the company, valued at approximately $2,693,013.45. This trade represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the sale, the executive vice president now owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,431 shares of company stock worth $1,421,356 over the last ninety days. 0.01% of the stock is currently owned by company insiders.

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.