Global Financial Private Client LLC Has $2.46 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Global Financial Private Client LLC grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 12.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,895 shares of the network equipment provider’s stock after buying an additional 4,559 shares during the period. Cisco Systems accounts for about 0.9% of Global Financial Private Client LLC’s portfolio, making the stock its 19th biggest holding. Global Financial Private Client LLC’s holdings in Cisco Systems were worth $2,462,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Glass Jacobson Investment Advisors llc increased its holdings in Cisco Systems by 8.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock worth $123,000 after buying an additional 166 shares during the last quarter. Fairhaven Wealth Management LLC lifted its position in Cisco Systems by 2.3% in the fourth quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock worth $449,000 after purchasing an additional 167 shares during the period. BlackDiamond Wealth Management LLC raised its stake in Cisco Systems by 3.1% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock worth $335,000 after acquiring an additional 168 shares in the last quarter. Legacy Financial Group Inc. raised its stake in Cisco Systems by 3.4% during the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock worth $302,000 after acquiring an additional 169 shares in the last quarter. Finally, Maple Capital Management Inc. raised its stake in Cisco Systems by 1.4% during the fourth quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock worth $709,000 after acquiring an additional 170 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSCO has been the topic of a number of recent research reports. Evercore ISI raised their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. New Street Research restated a “neutral” rating and issued a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. Morgan Stanley reiterated a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Barclays restated an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, The Goldman Sachs Group raised their price target on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Cisco Systems Stock Down 0.5%

NASDAQ CSCO opened at $63.05 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The company has a market capitalization of $249.68 billion, a P/E ratio of 27.53, a P/E/G 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 stock has a 50 day moving average price of $59.26 and a 200-day moving average price of $60.07.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same period in the previous year, the firm earned $0.88 earnings per share. The business’s revenue was up 11.4% on a year-over-year basis. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

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

Cisco Systems announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their position. The transaction was disclosed in a document filed 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 stock was 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 of the company’s stock, valued at approximately $2,693,013.45. This represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,616 shares of company stock valued at $2,640,095 in the last three months. 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.