Lake Street Advisors Group LLC Has $2.95 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Lake Street Advisors Group LLC grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,797 shares of the network equipment provider’s stock after purchasing an additional 1,493 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Cisco Systems were worth $2,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. FPC Investment Advisory Inc. acquired a new position in Cisco Systems in the fourth quarter valued at approximately $26,000. Highline Wealth Partners LLC increased its stake in shares of Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after acquiring an additional 260 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of Cisco Systems during the 3rd quarter valued at $40,000. Decker Retirement Planning Inc. bought a new position in Cisco Systems during the fourth quarter worth $49,000. Finally, Capital Performance Advisors LLP acquired a new stake in Cisco Systems in the third quarter worth $51,000. Institutional investors own 73.33% of the company’s stock.

Insider Activity

In other news, CFO Richard Scott Herren sold 19,929 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the completion of the transaction, the chief financial officer now directly owns 335,605 shares of the company’s stock, valued at approximately $21,616,318.05. This represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,848 shares of company stock valued at $4,767,206. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $64.27 on Wednesday. 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 cap of $255.68 billion, a PE ratio of 28.07, a PEG ratio of 4.16 and a beta of 0.84. The company’s fifty day moving average is $60.87 and its 200 day moving average is $56.56. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data 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 return on equity of 26.08% and a net margin of 16.96%. Research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

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

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be given a $0.41 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 annualized dividend and a yield of 2.55%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is presently 71.62%.

Analyst Ratings Changes

CSCO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of 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 raised their price objective on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $80.00 in a research note on Thursday, February 13th. Barclays raised their price objective 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. Finally, Melius raised Cisco Systems from a “hold” rating to a “buy” rating and upped their price target for the company from $66.00 to $73.00 in a research report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.53.

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.