Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Obermeyer Wealth Partners

Obermeyer Wealth Partners increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 30.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,426 shares of the network equipment provider’s stock after acquiring an additional 2,450 shares during the period. Obermeyer Wealth Partners’ holdings in Cisco Systems were worth $617,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Mainstream Capital Management LLC acquired a new position in Cisco Systems during the fourth quarter worth $132,000. Proficio Capital Partners LLC raised its stake in Cisco Systems by 76.4% during the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock worth $1,003,000 after acquiring an additional 7,338 shares in the last quarter. CENTRAL TRUST Co boosted its position in shares of Cisco Systems by 4.8% in the 4th quarter. CENTRAL TRUST Co now owns 112,101 shares of the network equipment provider’s stock valued at $6,636,000 after purchasing an additional 5,123 shares during the period. Requisite Capital Management LLC acquired a new stake in Cisco Systems during the 4th quarter worth $1,670,000. Finally, Stonegate Investment Group LLC raised its position in Cisco Systems by 0.8% during the 4th quarter. Stonegate Investment Group LLC now owns 1,539,557 shares of the network equipment provider’s stock worth $91,142,000 after buying an additional 11,506 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the subject of a number of analyst reports. Citigroup cut their price objective on shares of Cisco Systems from $73.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. lowered their target price on shares of Cisco Systems from $73.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective for the company in a research note on Tuesday, January 28th. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Finally, Rosenblatt Securities decreased their target price on shares of Cisco Systems from $80.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.05.

Cisco Systems Trading Up 3.2%

Shares of NASDAQ CSCO opened at $61.67 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $245.34 billion, a PE ratio of 26.93, a PEG ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The business has a 50-day moving average price of $58.73 and a two-hundred day moving average price of $59.51.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. As a group, analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd were given a dividend of $0.41 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 3rd. This represents a $1.64 annualized dividend and a yield of 2.66%. Cisco Systems’s dividend payout ratio is 71.62%.

Cisco Systems announced 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 outstanding shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the sale, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. The trade was a 4.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the transaction, the senior vice president now directly owns 44,155 shares of the company’s stock, valued at $2,693,013.45. This represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,547 shares of company stock worth $4,275,553 in the last quarter. Insiders own 0.01% of the company’s stock.

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.