Provence Wealth Management Group Buys 399 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Provence Wealth Management Group increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,565 shares of the network equipment provider’s stock after buying an additional 399 shares during the quarter. Provence Wealth Management Group’s holdings in Cisco Systems were worth $685,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CSCO. Wealthspire Advisors LLC boosted its holdings in Cisco Systems by 48.1% during the third quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock worth $3,838,000 after purchasing an additional 23,194 shares during the last quarter. Roble Belko & Company Inc grew its holdings in shares of Cisco Systems by 77.1% in the fourth quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock valued at $324,000 after acquiring an additional 2,788 shares in the last quarter. HBK Sorce Advisory LLC increased its position in shares of Cisco Systems by 0.5% during the third quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock valued at $3,448,000 after acquiring an additional 301 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in Cisco Systems during the fourth quarter worth $28,685,000. Finally, Adage Capital Partners GP L.L.C. boosted its position in Cisco Systems by 1.1% in the third quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock worth $240,335,000 after purchasing an additional 49,700 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In related news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the transaction, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CSCO shares. JPMorgan Chase & Co. assumed coverage on Cisco Systems in a research note on Monday, April 22nd. They set a “neutral” rating and a $53.00 target price on the stock. Citigroup started coverage on shares of Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 target price for the company. Barclays lifted their price target on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. Melius lowered Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Melius Research restated a “hold” rating and issued a $55.00 target price on shares of Cisco Systems in a research note on Monday, January 8th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $55.53.

Cisco Systems Price Performance

Shares of NASDAQ CSCO traded up $0.33 during trading hours on Friday, reaching $47.12. 17,935,302 shares of the stock traded hands, compared to its average volume of 17,219,910. The company’s 50-day simple moving average is $48.79 and its two-hundred day simple moving average is $49.83. The company has a market capitalization of $190.80 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 2.72 and a beta of 0.87. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results 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. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The firm had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. During the same period last year, the firm posted $0.76 earnings per share. The business’s revenue was down 5.9% compared to the same quarter last year. Equities research analysts forecast that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders 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 3.40%. The ex-dividend date of this dividend was Wednesday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio (DPR) is 48.63%.

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.