Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,414 shares of the network equipment provider’s stock after acquiring an additional 1,737 shares during the period. Connecticut Wealth Management LLC’s holdings in Cisco Systems were worth $880,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC increased its stake in Cisco Systems by 3.2% during the third quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock valued at $3,069,815,000 after purchasing an additional 1,790,717 shares during the last quarter. Northern Trust Corp raised its stake in Cisco Systems by 3.8% during the third quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock worth $2,717,537,000 after acquiring an additional 1,847,682 shares during the period. Invesco Ltd. raised its stake in Cisco Systems by 3.7% during the third quarter. Invesco Ltd. now owns 33,536,256 shares of the network equipment provider’s stock worth $1,802,909,000 after acquiring an additional 1,181,327 shares during the period. California Public Employees Retirement System lifted its holdings in Cisco Systems by 25.0% in the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock worth $947,262,000 after acquiring an additional 3,753,165 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Cisco Systems by 3.7% during the third quarter. AQR Capital Management LLC now owns 11,376,937 shares of the network equipment provider’s stock valued at $611,624,000 after purchasing an additional 405,699 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Richard Scott Herren sold 13,942 shares of the firm’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 value 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 approximately $16,424,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction 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 directly owns 58,121 shares in the company, valued at $2,906,050. The disclosure for this sale can be found here. Insiders sold a total of 19,441 shares of company stock valued at $972,080 in the last three months. 0.02% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CSCO has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised their price target on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 9th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Tuesday, April 9th. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $55.00 to $60.00 in a report on Monday, April 15th. JPMorgan Chase & Co. began coverage on shares of Cisco Systems in a research note on Monday, April 22nd. They set a “neutral” rating and a $53.00 target price for the company. Finally, Barclays raised their price target on shares of 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 research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $55.53.

Cisco Systems Price Performance

CSCO stock traded up $0.33 during trading hours on Friday, hitting $47.12. 17,935,302 shares of the stock traded hands, compared to its average volume of 17,219,910. The stock has a 50-day simple moving average of $48.79 and a 200 day simple moving average of $49.77. The company has a market cap of $190.80 billion, a P/E ratio of 14.32, a P/E/G ratio of 2.72 and a beta of 0.87. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The company had revenue of $12.79 billion during the quarter, compared to analyst estimates of $12.71 billion. During the same quarter last year, the firm posted $0.76 EPS. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. Equities analysts forecast that Cisco Systems, Inc. will post 3.13 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date was Wednesday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio is 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.