Canopy Partners LLC Buys 5,909 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Canopy Partners LLC lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 63.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,171 shares of the network equipment provider's stock after buying an additional 5,909 shares during the period. Canopy Partners LLC's holdings in Cisco Systems were worth $898,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Pflug Koory LLC raised its position in shares of Cisco Systems by 0.5% in the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider's stock valued at $1,955,000 after purchasing an additional 165 shares during the period. Fairhaven Wealth Management LLC boosted its holdings in shares of Cisco Systems by 2.3% during the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider's stock worth $449,000 after buying an additional 167 shares during the period. BlackDiamond Wealth Management LLC grew its stake in Cisco Systems by 3.1% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock valued at $335,000 after buying an additional 168 shares during the last quarter. Maple Capital Management Inc. raised its holdings in Cisco Systems by 1.4% in the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider's stock valued at $709,000 after acquiring an additional 170 shares during the period. Finally, Pathway Financial Advisors LLC lifted its position in Cisco Systems by 3.1% during the fourth quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider's stock worth $343,000 after acquiring an additional 172 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

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Cisco Systems Price Performance

NASDAQ CSCO traded up $0.74 on Friday, hitting $57.33. 9,769,020 shares of the company's stock were exchanged, compared to its average volume of 20,032,734. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The stock has a 50-day moving average of $61.38 and a 200-day moving average of $58.98. 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 stock has a market cap of $228.06 billion, a price-to-earnings ratio of 24.93, a P/E/G ratio of 4.16 and a beta of 0.86.

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

Cisco Systems announced that its board has authorized a share buyback program on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. The ex-dividend date is Thursday, April 3rd. This is a positive change from Cisco Systems's previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.86%. Cisco Systems's payout ratio is 71.62%.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 762 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total transaction of $46,474.38. Following the sale, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. The trade was a 1.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the transaction, the executive vice president now owns 191,184 shares of the company's stock, valued at $11,604,868.80. This represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,547 shares of company stock worth $4,275,553 in the last three months. 0.01% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CSCO. DZ Bank raised Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. Melius raised Cisco Systems from a "hold" rating to a "buy" rating and upped their price objective for the company from $66.00 to $73.00 in a report on Monday, January 6th. Citigroup reissued an "overweight" rating on shares of Cisco Systems in a report on Thursday, March 6th. Morgan Stanley upped their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Finally, Melius Research raised shares of Cisco Systems from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $66.00.

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.