4,816 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Purchased by ABLE Financial Group LLC

ABLE Financial Group LLC purchased a new position in Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,816 shares of the network equipment provider’s stock, valued at approximately $285,000.

Other institutional investors also recently bought and sold shares of the company. FPC Investment Advisory Inc. bought a new position in Cisco Systems in the fourth quarter worth about $26,000. Navigoe LLC bought a new position in Cisco Systems in the fourth quarter worth about $26,000. Mpwm Advisory Solutions LLC bought a new position in Cisco Systems in the fourth quarter worth about $26,000. JDM Financial Group LLC raised its stake in Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after buying an additional 300 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new position in Cisco Systems in the fourth quarter worth about $30,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Trading Down 0.4%

Shares of CSCO stock opened at $63.11 on Monday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. 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’s 50 day moving average is $59.05 and its 200 day moving average is $59.96. The stock has a market capitalization of $249.92 billion, a P/E ratio of 27.56, a P/E/G ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter last year, the company posted $0.88 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. Research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems declared that its board has authorized a share repurchase plan on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.60%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is currently 66.94%.

Insider Buying and Selling

In other news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the transaction, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. This trade represents a 1.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares in the company, valued at $11,604,868.80. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,431 shares of company stock worth $1,421,356. 0.01% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price for the company in a research note on Tuesday, January 28th. New Street Research reaffirmed a “neutral” rating and set a $70.00 target price on shares of Cisco Systems in a research note on Friday, May 16th. Wells Fargo & Company raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Wall Street Zen raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Finally, The Goldman Sachs Group raised their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Cisco Systems 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.