Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by EdgeRock Capital LLC

EdgeRock Capital LLC grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,232 shares of the network equipment provider’s stock after buying an additional 197 shares during the quarter. EdgeRock Capital LLC’s holdings in Cisco Systems were worth $323,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CSCO. Tallon Kerry Patrick acquired a new position in Cisco Systems during the fourth quarter worth $603,000. Brighton Jones LLC raised its holdings in Cisco Systems by 49.5% during the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after purchasing an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in Cisco Systems by 37.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock worth $542,000 after purchasing an additional 2,474 shares during the last quarter. Wingate Wealth Advisors Inc. acquired a new position in Cisco Systems during the fourth quarter worth $113,000. Finally, Bristlecone Advisors LLC raised its holdings in Cisco Systems by 31.3% during the fourth quarter. Bristlecone Advisors LLC now owns 8,226 shares of the network equipment provider’s stock worth $487,000 after purchasing an additional 1,962 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Trading Down 1.1%

NASDAQ:CSCO opened at $65.15 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The business’s 50-day simple moving average is $59.85 and its 200 day simple moving average is $60.46. The stock has a market cap of $257.99 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The business had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter in the previous year, the firm posted $0.88 earnings per share. The company’s revenue was up 11.4% compared to the same quarter last year. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s payout ratio is currently 66.94%.

Cisco Systems announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup lifted their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Wall Street Zen raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. The Goldman Sachs Group raised 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. UBS Group raised their price target on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Rosenblatt Securities raised their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $68.00.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 9,643 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the sale, the executive vice president now owns 181,186 shares in the company, valued at $11,505,311. This represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 4,185 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $63.51, for a total value of $265,789.35. Following the sale, the senior vice president now owns 38,103 shares in the company, valued at $2,419,921.53. The trade was a 9.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,573 shares of company stock worth $4,392,619 over the last quarter. 0.01% of the stock is owned by corporate insiders.

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.