29,581 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Acquired by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 29,581 shares of the network equipment provider’s stock, valued at approximately $1,751,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Quarry LP boosted its holdings in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the last quarter. Czech National Bank raised its stake in Cisco Systems by 6.4% in the third quarter. Czech National Bank now owns 820,712 shares of the network equipment provider’s stock valued at $43,678,000 after buying an additional 49,100 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Cisco Systems by 19.4% during the third quarter. GAMMA Investing LLC now owns 82,544 shares of the network equipment provider’s stock worth $4,393,000 after acquiring an additional 13,406 shares during the period. Azzad Asset Management Inc. ADV increased its holdings in shares of Cisco Systems by 2.3% during the third quarter. Azzad Asset Management Inc. ADV now owns 39,516 shares of the network equipment provider’s stock worth $2,103,000 after purchasing an additional 907 shares during the period. Finally, Diversified Trust Co raised its position in shares of Cisco Systems by 3.6% in the third quarter. Diversified Trust Co now owns 51,885 shares of the network equipment provider’s stock valued at $2,761,000 after buying an additional 1,827 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. The trade was a 17.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the transaction, the executive vice president now owns 213,834 shares in the company, valued at $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock valued at $20,349,721 in the last 90 days. 0.01% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CSCO. Tigress Financial raised their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. UBS Group raised their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Morgan Stanley boosted their price objective on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.72.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $60.88 on Tuesday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $62.31. The stock has a market cap of $242.45 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 4.51 and a beta of 0.84. The company’s fifty day moving average price is $59.44 and its 200-day moving average price is $54.58. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 EPS. On average, equities analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.63%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

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.