Naviter Wealth LLC Purchases 6,795 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Naviter Wealth LLC raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 24.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,272 shares of the network equipment provider’s stock after acquiring an additional 6,795 shares during the period. Naviter Wealth LLC’s holdings in Cisco Systems were worth $1,731,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Guyasuta Investment Advisors Inc. boosted its stake in shares of Cisco Systems by 6.3% during the fourth quarter. Guyasuta Investment Advisors Inc. now owns 12,272 shares of the network equipment provider’s stock valued at $620,000 after purchasing an additional 729 shares during the period. Choreo LLC boosted its stake in shares of Cisco Systems by 53.6% during the fourth quarter. Choreo LLC now owns 95,923 shares of the network equipment provider’s stock valued at $4,846,000 after purchasing an additional 33,489 shares during the period. Mather Group LLC. boosted its stake in shares of Cisco Systems by 0.5% during the fourth quarter. Mather Group LLC. now owns 59,579 shares of the network equipment provider’s stock valued at $3,010,000 after purchasing an additional 282 shares during the period. Gilbert & Cook Inc. boosted its stake in shares of Cisco Systems by 1.1% during the fourth quarter. Gilbert & Cook Inc. now owns 23,417 shares of the network equipment provider’s stock valued at $1,183,000 after purchasing an additional 264 shares during the period. Finally, Blue Chip Partners LLC boosted its stake in shares of Cisco Systems by 0.6% during the fourth quarter. Blue Chip Partners LLC now owns 358,791 shares of the network equipment provider’s stock valued at $18,126,000 after purchasing an additional 2,299 shares during the period. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on CSCO shares. JPMorgan Chase & Co. started coverage on shares of Cisco Systems in a research note on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price objective for the company. Morgan Stanley began coverage on shares of Cisco Systems in a report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price for the company. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Tuesday, April 9th. Finally, Citigroup assumed coverage on shares of Cisco Systems in a report on Friday, April 12th. They set a “neutral” rating and a $52.00 price objective on the stock. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $55.53.

Cisco Systems Stock Down 0.0 %

Shares of Cisco Systems stock traded down $0.02 on Monday, reaching $47.84. 5,156,797 shares of the company were exchanged, compared to its average volume of 19,174,559. Cisco Systems, Inc. has a 1-year low of $45.56 and a 1-year high of $58.19. The company has a market cap of $193.71 billion, a P/E ratio of 14.55, a price-to-earnings-growth ratio of 2.76 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 stock’s 50 day moving average price is $48.94 and its 200-day moving average price is $50.01.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The firm had revenue of $12.79 billion during 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 firm’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.76 earnings per share. As a group, equities analysts forecast that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.34%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date was Wednesday, April 3rd. Cisco Systems’s dividend payout ratio is 48.63%.

Insider Activity at Cisco Systems

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

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.