HMV Wealth Advisors LLC Acquires New Shares in Cisco Systems, Inc. (NASDAQ:CSCO)

HMV Wealth Advisors LLC bought a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the 4th quarter, Holdings Channel reports. The firm bought 11,507 shares of the network equipment provider’s stock, valued at approximately $681,000.

Several other hedge funds have also recently added to or reduced their stakes in CSCO. Raymond James Financial Inc. bought a new stake in Cisco Systems during the 4th quarter valued at $560,722,000. FMR LLC raised its stake in Cisco Systems by 10.1% during the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after acquiring an additional 5,885,879 shares in the last quarter. Two Sigma Advisers LP raised its stake in Cisco Systems by 327.5% during the 3rd quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock valued at $362,907,000 after acquiring an additional 5,223,800 shares in the last quarter. National Bank of Canada FI raised its stake in Cisco Systems by 79.6% during the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock valued at $477,463,000 after acquiring an additional 3,975,028 shares in the last quarter. Finally, State Street Corp raised its stake in Cisco Systems by 1.7% during the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after acquiring an additional 3,241,682 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the topic of a number of research reports. Rosenblatt Securities raised Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $66.00 to $80.00 in a research note on Thursday, February 13th. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. The Goldman Sachs Group boosted their price objective on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Citigroup reissued an “overweight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, Melius raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Seven equities research 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’s stock. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus price target of $66.63.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Richard Scott Herren sold 19,929 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $1,283,626.89. Following the sale, the chief financial officer now owns 335,605 shares of the company’s stock, valued at approximately $21,616,318.05. This trade represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,547 shares of company stock worth $4,275,553 over the last 90 days. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $60.50 on Friday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $240.69 billion, a price-to-earnings ratio of 26.42, a P/E/G ratio of 4.16 and a beta of 0.79. The stock’s fifty day simple moving average is $61.79 and its 200-day simple moving average is $57.70.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS 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%. On average, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.71%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is 71.62%.

Cisco Systems announced that its board has initiated 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 buy up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

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.