EdgeRock Capital LLC Raises Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

EdgeRock Capital LLC grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 11.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,035 shares of the network equipment provider’s stock after buying an additional 506 shares during the period. EdgeRock Capital LLC’s holdings in Cisco Systems were worth $298,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Fairhaven Wealth Management LLC grew its stake in Cisco Systems by 2.3% during the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock valued at $449,000 after acquiring an additional 167 shares in the last quarter. Mengis Capital Management Inc. increased its holdings in shares of Cisco Systems by 5.2% in the fourth quarter. Mengis Capital Management Inc. now owns 6,305 shares of the network equipment provider’s stock valued at $373,000 after purchasing an additional 314 shares during the last quarter. CWS Financial Advisors LLC boosted its stake in Cisco Systems by 14.9% during the fourth quarter. CWS Financial Advisors LLC now owns 12,227 shares of the network equipment provider’s stock worth $724,000 after buying an additional 1,587 shares during the last quarter. Pine Valley Investments Ltd Liability Co raised its holdings in shares of Cisco Systems by 20.2% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 39,675 shares of the network equipment provider’s stock worth $2,349,000 after acquiring an additional 6,671 shares during the period. Finally, Addison Advisors LLC boosted its position in shares of Cisco Systems by 2.4% during the 4th quarter. Addison Advisors LLC now owns 17,401 shares of the network equipment provider’s stock valued at $1,030,000 after acquiring an additional 400 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $63.24 on Tuesday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The stock’s 50-day moving average price is $60.75 and its 200 day moving average price is $56.42. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $251.59 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Thursday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is currently 69.87%.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays raised their price target on shares of Cisco Systems from $56.00 to $61.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. Morgan Stanley lifted their target price on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. UBS Group increased their price target on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. BNP Paribas upgraded shares of 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. Finally, JPMorgan Chase & Co. upped their target price on shares of Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.53.

Insiders Place Their Bets

In other Cisco Systems news, Director Kristina M. Johnson sold 7,500 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $59.87, for a total transaction of $449,025.00. Following the sale, the director now directly owns 65,915 shares in the company, valued at approximately $3,946,331.05. The trade was a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 4,881 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total value of $291,542.13. Following the completion of the transaction, the senior vice president now owns 51,931 shares of the company’s stock, valued at approximately $3,101,838.63. This represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,729 shares of company stock worth $5,058,748. 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.