Broadway Wealth Solutions Inc. Buys Shares of 7,927 Cisco Systems, Inc. (NASDAQ:CSCO)

Broadway Wealth Solutions Inc. acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the 4th quarter, Holdings Channel reports. The firm acquired 7,927 shares of the network equipment provider’s stock, valued at approximately $469,000. Cisco Systems comprises 0.4% of Broadway Wealth Solutions Inc.’s investment portfolio, making the stock its 26th biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. RPg Family Wealth Advisory LLC acquired a new position in shares of Cisco Systems in the 3rd quarter worth approximately $40,000. BBR Partners LLC bought a new stake in shares of Cisco Systems in the 3rd quarter worth about $1,158,000. Providence Capital Advisors LLC increased its position in shares of Cisco Systems by 0.3% during the 3rd quarter. Providence Capital Advisors LLC now owns 174,153 shares of the network equipment provider’s stock worth $9,268,000 after purchasing an additional 468 shares in the last quarter. Tybourne Capital Management HK Ltd. acquired a new position in Cisco Systems in the third quarter valued at about $744,000. Finally, Public Sector Pension Investment Board grew its stake in Cisco Systems by 12.7% during the third quarter. Public Sector Pension Investment Board now owns 175,424 shares of the network equipment provider’s stock worth $9,336,000 after buying an additional 19,800 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Down 0.6 %

Shares of NASDAQ:CSCO opened at $61.40 on Friday. The firm has a fifty day moving average price of $62.10 and a two-hundred day moving average price of $58.38. The company has a market cap of $244.27 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 4.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last announced 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%. Analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems declared that its board has initiated a share buyback program on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors 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 issued a $0.41 dividend. The ex-dividend date is Thursday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.67%. Cisco Systems’s dividend payout ratio is 71.62%.

Insider Activity

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 19,929 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 335,605 shares of the company’s stock, valued at $21,616,318.05. The trade was a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,547 shares of company stock worth $4,275,553 in the last quarter. 0.01% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on CSCO shares. Wells Fargo & Company reiterated an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. JPMorgan Chase & Co. upped their price objective on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. The Goldman Sachs Group upped their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, StockNews.com cut Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.63.

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.