Bank of Jackson Hole Trust Takes Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Bank of Jackson Hole Trust purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,664 shares of the network equipment provider's stock, valued at approximately $454,000.

Other hedge funds have also added to or reduced their stakes in the company. Callahan Advisors LLC lifted its position in shares of Cisco Systems by 14.2% in the 4th quarter. Callahan Advisors LLC now owns 65,500 shares of the network equipment provider's stock worth $3,878,000 after purchasing an additional 8,126 shares during the period. Schubert & Co purchased a new position in Cisco Systems in the 4th quarter worth about $227,000. Kentucky Retirement Systems Insurance Trust Fund lifted its position in Cisco Systems by 58.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 189,339 shares of the network equipment provider's stock valued at $11,209,000 after purchasing an additional 70,056 shares during the period. Cardinal Capital Management boosted its stake in shares of Cisco Systems by 0.3% in the 4th quarter. Cardinal Capital Management now owns 153,517 shares of the network equipment provider's stock worth $9,088,000 after buying an additional 451 shares during the last quarter. Finally, BKM Wealth Management LLC grew its stake in shares of Cisco Systems by 6.0% during the 4th quarter. BKM Wealth Management LLC now owns 28,142 shares of the network equipment provider's stock valued at $1,666,000 after purchasing an additional 1,585 shares during the period. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 586 shares of the firm's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the sale, the senior vice president now owns 50,767 shares in the company, valued at $2,979,515.23. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thimaya K. Subaiya sold 3,042 shares of Cisco Systems stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the transaction, the executive vice president now owns 207,798 shares in the company, valued at $12,299,563.62. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,921 shares of company stock worth $4,298,667. 0.01% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. DZ Bank upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday. JPMorgan Chase & Co. increased their price target on shares of Cisco Systems from $69.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Bank of America raised their price objective on Cisco Systems from $60.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Wells Fargo & Company lifted their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the company an "equal weight" rating in a report on Thursday, February 13th. Finally, Citigroup lifted their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.53.

Cisco Systems Trading Down 1.1 %

NASDAQ CSCO traded down $0.69 on Friday, hitting $63.98. 18,884,987 shares of the stock were exchanged, compared to its average volume of 19,763,086. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The stock has a fifty day moving average price of $60.55 and a two-hundred day moving average price of $56.01. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The firm has a market capitalization of $254.53 billion, a P/E ratio of 27.94, a P/E/G ratio of 4.17 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.56%. Cisco Systems's dividend payout ratio is currently 71.62%.

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.