Concorde Asset Management LLC Has $311,000 Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Concorde Asset Management LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.9% during the 4th quarter, Holdings Channel reports. The firm owned 5,252 shares of the network equipment provider’s stock after purchasing an additional 602 shares during the period. Concorde Asset Management LLC’s holdings in Cisco Systems were worth $311,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Soltis Investment Advisors LLC raised its stake in Cisco Systems by 6.6% in the third quarter. Soltis Investment Advisors LLC now owns 12,930 shares of the network equipment provider’s stock valued at $688,000 after purchasing an additional 798 shares in the last quarter. Advisory Resource Group raised its position in shares of Cisco Systems by 1.9% in the 3rd quarter. Advisory Resource Group now owns 97,718 shares of the network equipment provider’s stock valued at $5,201,000 after buying an additional 1,784 shares in the last quarter. Morse Asset Management Inc acquired a new stake in shares of Cisco Systems in the 3rd quarter valued at $798,000. SkyView Investment Advisors LLC increased its stake in shares of Cisco Systems by 4.5% in the 3rd quarter. SkyView Investment Advisors LLC now owns 10,188 shares of the network equipment provider’s stock valued at $542,000 after purchasing an additional 440 shares during the last quarter. Finally, Tudor Financial Inc. acquired a new position in shares of Cisco Systems during the 3rd quarter worth $1,097,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on CSCO. Rosenblatt Securities raised Cisco Systems from a “neutral” rating to a “buy” rating and raised their price objective for the company from $66.00 to $80.00 in a research note on Thursday, February 13th. StockNews.com lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 5th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group increased their price target on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.00.

Insider Activity

In other news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. The trade was a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, the chief executive officer now owns 736,120 shares in the company, 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 have sold 66,547 shares of company stock worth $4,275,553. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Down 2.6 %

Shares of NASDAQ:CSCO opened at $56.59 on Friday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The business’s 50-day moving average is $61.38 and its 200-day moving average is $58.98. The company has a market capitalization of $225.13 billion, a price-to-earnings ratio of 24.71, a P/E/G ratio of 4.16 and a beta of 0.86.

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

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be paid a $0.41 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems’s payout ratio is 71.62%.

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

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.