ProVise Management Group LLC Acquires 1,465 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

ProVise Management Group LLC lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,448 shares of the network equipment provider’s stock after acquiring an additional 1,465 shares during the period. ProVise Management Group LLC’s holdings in Cisco Systems were worth $1,437,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealthspire Advisors LLC boosted its stake 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 buying an additional 23,194 shares in the last quarter. Roble Belko & Company Inc boosted its position in shares of Cisco Systems by 77.1% during the 4th 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. Louisiana State Employees Retirement System bought a new stake in Cisco Systems in the fourth quarter valued at about $28,685,000. Adage Capital Partners GP L.L.C. raised 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 in the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC lifted its stake in Cisco Systems by 0.6% during the fourth quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 192,674 shares of the network equipment provider’s stock worth $9,734,000 after purchasing an additional 1,097 shares during the period. Institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares in the company, valued at approximately $9,579,865.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the sale, the executive vice president now directly owns 180,705 shares in the company, valued at $8,717,209.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares in the company, valued at $9,579,865.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,457 shares of company stock worth $1,358,772. 0.02% of the stock is currently owned by company insiders.

Cisco Systems Trading Down 0.4 %

Shares of CSCO traded down $0.18 on Friday, reaching $46.42. 11,941,076 shares of the company’s stock were exchanged, compared to its average volume of 19,514,820. The business has a 50 day moving average price of $48.40 and a two-hundred day moving average price of $49.32. Cisco Systems, Inc. has a 12 month low of $46.20 and a 12 month high of $58.19. The stock has a market capitalization of $187.02 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 2.71 and a beta of 0.87. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same quarter in the previous year, the company posted $0.88 EPS. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. Research analysts anticipate that Cisco Systems, Inc. will post 3.13 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CSCO shares. Oppenheimer upped their price objective on Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Bank of America upgraded 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 research note on Monday, April 15th. JPMorgan Chase & Co. initiated coverage on shares of Cisco Systems in a research note on Monday, April 22nd. They issued a “neutral” rating and a $53.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 9th. Finally, UBS Group boosted their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $56.47.

Cisco Systems Company 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.