Priebe Wealth Holdings LLC Purchases Shares of 4,870 Cisco Systems, Inc. (NASDAQ:CSCO)

Priebe Wealth Holdings LLC acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 4,870 shares of the network equipment provider’s stock, valued at approximately $301,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Glass Jacobson Investment Advisors llc increased its stake in Cisco Systems by 8.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock valued at $123,000 after purchasing an additional 166 shares in the last quarter. Fairhaven Wealth Management LLC increased its position in shares of Cisco Systems by 2.3% during the fourth quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock worth $449,000 after acquiring an additional 167 shares in the last quarter. BlackDiamond Wealth Management LLC raised its holdings in shares of Cisco Systems by 3.1% in the 4th 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 during the last quarter. Legacy Financial Group Inc. lifted its position in Cisco Systems by 3.4% in the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock valued at $302,000 after acquiring an additional 169 shares in the last quarter. Finally, Maple Capital Management Inc. boosted its stake in Cisco Systems by 1.4% during the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock valued at $709,000 after purchasing an additional 170 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CSCO shares. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. New Street Research reissued a “neutral” rating and issued a $70.00 price target on shares of Cisco Systems in a research report on Friday, May 16th. JPMorgan Chase & Co. raised their price objective on Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, May 15th. Wall Street Zen upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Finally, Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Cisco Systems Price Performance

CSCO stock opened at $66.06 on Monday. The firm’s 50-day moving average price is $59.61 and its two-hundred day moving average price is $60.38. The stock has a market capitalization of $261.60 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 4.16 and a beta of 0.88. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data 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 analyst estimates of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Cisco Systems’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the business posted $0.88 earnings per share. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.48%. Cisco Systems’s dividend payout ratio is 66.94%.

Cisco Systems declared that its Board of Directors has initiated a stock buyback 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 usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares of the company’s stock, valued at $11,604,868.80. This trade represents a 1.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer now directly owns 688,409 shares of the company’s stock, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,400 shares of company stock worth $4,564,439. 0.01% of the stock is owned by corporate insiders.

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.