Custos Family Office LLC Takes Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Custos Family Office LLC acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,664 shares of the network equipment provider’s stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Pflug Koory LLC increased its position in shares of Cisco Systems by 0.5% in the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock valued at $1,955,000 after buying an additional 165 shares in the last quarter. Fairhaven Wealth Management LLC increased its position in shares of 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 valued at $449,000 after buying an additional 167 shares in the last quarter. BlackDiamond Wealth Management LLC increased its position in shares of Cisco Systems by 3.1% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock valued at $335,000 after buying an additional 168 shares in the last quarter. Maple Capital Management Inc. increased its position in shares of Cisco Systems by 1.4% in the fourth quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock valued at $709,000 after buying an additional 170 shares in the last quarter. Finally, Pathway Financial Advisors LLC increased its position in shares of Cisco Systems by 3.1% during the fourth quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider’s stock worth $343,000 after purchasing an additional 172 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Charles Robbins sold 31,983 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the transaction, the chief executive officer now owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. This represents a 4.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 19,929 shares of the 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 transaction, the chief financial officer now directly owns 335,605 shares in the company, valued at approximately $21,616,318.05. The trade was a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,547 shares of company stock valued at $4,275,553 in the last quarter. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $60.89 on Tuesday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The business’s fifty day simple moving average is $61.83 and its 200-day simple moving average is $57.88. The firm has a market cap of $242.24 billion, a PE ratio of 26.59, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43.

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

Cisco Systems declared that its board has initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.69%. 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 71.62%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. The Goldman Sachs Group boosted their price target on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Citigroup reiterated an “overweight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Finally, Morgan Stanley boosted their price target on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $66.63.

About Cisco Systems

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.