Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Obermeyer Wood Investment Counsel Lllp

Obermeyer Wood Investment Counsel Lllp grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 48.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,947 shares of the network equipment provider’s stock after buying an additional 2,925 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in Cisco Systems were worth $452,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Moneta Group Investment Advisors LLC increased its holdings in shares of Cisco Systems by 112,307.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock valued at $2,835,509,000 after purchasing an additional 59,466,550 shares during the period. Norges Bank purchased a new stake in shares of Cisco Systems in the fourth quarter valued at $2,028,781,000. Morgan Stanley lifted its position in shares of Cisco Systems by 17.4% in the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock valued at $2,943,593,000 after acquiring an additional 9,160,347 shares in the last quarter. Barclays PLC lifted its position in Cisco Systems by 83.6% during the second quarter. Barclays PLC now owns 14,544,909 shares of the network equipment provider’s stock worth $752,554,000 after buying an additional 6,621,125 shares during the period. Finally, State Street Corp lifted its position in Cisco Systems by 2.2% during the first quarter. State Street Corp now owns 184,879,450 shares of the network equipment provider’s stock worth $9,664,544,000 after buying an additional 4,061,022 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on CSCO. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $55.00 to $60.00 in a research note on Monday. Wells Fargo & Company initiated coverage on Cisco Systems in a research note on Thursday, February 15th. They set an “equal weight” rating and a $52.00 target price on the stock. Melius Research reaffirmed a “hold” rating and set a $55.00 target price on shares of Cisco Systems in a research note on Monday, January 8th. Deutsche Bank Aktiengesellschaft boosted their price target on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. Finally, Barclays upped their target price on Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $56.03.

Insider Buying and Selling at Cisco Systems

In other 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 transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares in the company, valued at $9,579,865.59. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Price Performance

NASDAQ CSCO traded up $0.32 during trading hours on Thursday, reaching $48.11. 13,080,391 shares of the stock traded hands, compared to its average volume of 19,487,760. The stock has a 50 day simple moving average of $49.14 and a two-hundred day simple moving average of $50.31. Cisco Systems, Inc. has a 1 year low of $45.56 and a 1 year high of $58.19. 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 company has a market cap of $194.81 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 2.75 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.84 by $0.03. The firm had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The company’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 earnings per share. On average, analysts predict that Cisco Systems, Inc. will post 3.14 EPS 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. Shareholders of record on Thursday, April 4th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.33%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, April 3rd. Cisco Systems’s payout ratio is presently 48.63%.

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.