Glass Wealth Management Co LLC Has $1.71 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Glass Wealth Management Co LLC increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,905 shares of the network equipment provider’s stock after acquiring an additional 229 shares during the quarter. Glass Wealth Management Co LLC’s holdings in Cisco Systems were worth $1,711,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $26,000. Highline Wealth Partners LLC grew its holdings in Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after buying an additional 260 shares in the last quarter. Synergy Investment Management LLC acquired a new position in Cisco Systems in the 4th quarter valued at $36,000. RPg Family Wealth Advisory LLC acquired a new position in Cisco Systems in the 3rd quarter valued at $40,000. Finally, Decker Retirement Planning Inc. acquired a new position in Cisco Systems in the 4th quarter valued at $49,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the transaction, the senior vice president now directly owns 50,767 shares in the company, valued at approximately $2,979,515.23. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Robbins sold 31,983 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 736,120 shares of the company’s stock, valued at $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,848 shares of company stock worth $4,767,206. 0.01% of the stock is currently owned by insiders.

Cisco Systems Price Performance

Shares of CSCO stock opened at $63.26 on Wednesday. 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, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The company has a market cap of $251.67 billion, a P/E ratio of 27.62, a P/E/G ratio of 4.16 and a beta of 0.84. The business has a fifty day simple moving average of $61.39 and a 200 day simple moving average of $57.16.

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 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%. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems declared that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in 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 usually a sign that the company’s board of directors believes its shares are undervalued.

Cisco Systems Increases Dividend

The company 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 $0.41 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. 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 2.59%. Cisco Systems’s dividend payout ratio (DPR) is currently 71.62%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. The Goldman Sachs Group upped their price objective on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Tuesday, January 28th. Citigroup upped their price objective on Cisco Systems from $71.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, UBS Group increased their target price on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Seven equities 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. Based on data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and an average price target of $66.63.

About Cisco Systems

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.