Tyche Wealth Partners LLC Acquires Shares of 29,577 Cisco Systems, Inc. (NASDAQ:CSCO)

Tyche Wealth Partners LLC acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 29,577 shares of the network equipment provider’s stock, valued at approximately $1,494,000.

Other large investors have also recently made changes to their positions in the company. Wealthspire Advisors LLC lifted its stake in shares of Cisco Systems by 48.1% in the third quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock valued at $3,838,000 after buying an additional 23,194 shares in the last quarter. HBK Sorce Advisory LLC lifted its stake in shares of Cisco Systems by 0.5% in the third quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock valued at $3,448,000 after buying an additional 301 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Cisco Systems in the fourth quarter valued at $28,685,000. Adage Capital Partners GP L.L.C. lifted its stake in shares of Cisco Systems by 1.1% in the third quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock valued at $240,335,000 after buying an additional 49,700 shares in the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC lifted its stake in shares of Cisco Systems by 0.6% in the fourth quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 192,674 shares of the network equipment provider’s stock valued at $9,734,000 after buying an additional 1,097 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the transaction, the chief financial officer now owns 328,491 shares of the company’s stock, valued at $16,424,550. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,441 shares of company stock valued at $972,080. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CSCO. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Tuesday, April 9th. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the company from $55.00 to $60.00 in a research report on Monday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. Melius downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Wells Fargo & Company began coverage on shares of Cisco Systems in a report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and a consensus target price of $56.03.

Cisco Systems Stock Performance

Shares of CSCO traded down $0.32 during trading hours on Tuesday, hitting $47.92. The company’s stock had a trading volume of 14,229,345 shares, compared to its average volume of 19,646,592. The company has a market cap of $194.04 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 2.78 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The business has a 50 day simple moving average of $49.22 and a two-hundred day simple moving average of $50.37. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.84 by $0.03. The company had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. Cisco Systems’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.76 earnings per share. On average, equities analysts expect that Cisco Systems, Inc. will post 3.15 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, April 3rd. This represents a $1.60 annualized dividend and a yield of 3.34%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s payout ratio is currently 48.63%.

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.