Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Umpqua Bank

Umpqua Bank increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,132 shares of the network equipment provider’s stock after purchasing an additional 645 shares during the period. Umpqua Bank’s holdings in Cisco Systems were worth $542,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Pflug Koory LLC raised its position in shares of Cisco Systems by 0.5% during the 4th quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock worth $1,955,000 after purchasing an additional 165 shares during the last quarter. Fairhaven Wealth Management LLC raised its holdings in Cisco Systems by 2.3% in the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock valued at $449,000 after acquiring an additional 167 shares during the last quarter. BlackDiamond Wealth Management LLC raised its holdings in Cisco Systems by 3.1% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock valued at $335,000 after acquiring 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 acquiring an additional 170 shares during the last quarter. Finally, Pathway Financial Advisors LLC raised its holdings in Cisco Systems by 3.1% in the 4th quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider’s stock valued at $343,000 after acquiring an additional 172 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the sale, the executive vice president now owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. The trade was a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the sale, the chief executive officer now directly owns 736,120 shares in the company, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,547 shares of company stock valued at $4,275,553. Insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

CSCO has been the subject of several analyst reports. DZ Bank upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. StockNews.com downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 5th. Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price target for the company from $66.00 to $80.00 in a report on Thursday, February 13th. Wells Fargo & Company reissued an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.63.

Cisco Systems Price Performance

CSCO opened at $60.30 on Friday. The firm has a market cap of $239.89 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The company’s 50-day moving average price is $61.95 and its 200 day moving average price is $58.05. 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 released its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share 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%. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems announced that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is 71.62%.

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.