Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Selway Asset Management

Selway Asset Management raised its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,157 shares of the network equipment provider’s stock after purchasing an additional 970 shares during the quarter. Cisco Systems comprises 2.7% of Selway Asset Management’s investment portfolio, making the stock its 9th biggest position. Selway Asset Management’s holdings in Cisco Systems were worth $6,817,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Pflug Koory LLC grew its position in Cisco Systems by 0.5% in the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock worth $1,955,000 after acquiring an additional 165 shares during the period. Fairhaven Wealth Management LLC grew its holdings in shares of Cisco Systems by 2.3% during the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock worth $449,000 after purchasing an additional 167 shares during the period. BlackDiamond Wealth Management LLC increased its position in shares of Cisco Systems by 3.1% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock worth $335,000 after purchasing an additional 168 shares during the last quarter. Maple Capital Management Inc. raised its holdings in Cisco Systems by 1.4% in the 4th 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 during the period. Finally, Pathway Financial Advisors LLC lifted its position in Cisco Systems by 3.1% in the fourth quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider’s stock valued at $343,000 after buying an additional 172 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $61.82 on Thursday. The company’s fifty day moving average is $62.16 and its two-hundred day moving average is $58.79. The company has a market cap of $245.94 billion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. 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 data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (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%. Equities analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its board has approved a share repurchase program on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.65%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems’s dividend payout ratio is presently 71.62%.

Insider Activity at Cisco Systems

In other news, CEO Charles Robbins sold 31,983 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 $2,060,025.03. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 19,929 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were 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 owns 335,605 shares in the company, valued at $21,616,318.05. This represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,547 shares of company stock valued at $4,275,553. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CSCO shares. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the company from $66.00 to $73.00 in a research note on Monday, January 6th. The Goldman Sachs Group boosted their target price on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Finally, Morgan Stanley upped their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.63.

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.