Petros Family Wealth LLC Invests $1.70 Million in Cisco Systems, Inc. (NASDAQ:CSCO)

Petros Family Wealth LLC acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 28,766 shares of the network equipment provider's stock, valued at approximately $1,703,000. Cisco Systems accounts for approximately 1.8% of Petros Family Wealth LLC's portfolio, making the stock its 11th biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. FPC Investment Advisory Inc. purchased a new stake in shares of Cisco Systems in the 4th quarter worth about $26,000. Runnymede Capital Advisors Inc. purchased a new stake in Cisco Systems in the fourth quarter worth about $30,000. Campbell Capital Management Inc. bought a new stake in Cisco Systems during the 4th quarter valued at approximately $31,000. Highline Wealth Partners LLC grew its holdings in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock worth $35,000 after acquiring an additional 260 shares during the period. Finally, Synergy Investment Management LLC bought a new position in shares of Cisco Systems in the 4th quarter worth approximately $36,000. 73.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CSCO shares. JPMorgan Chase & Co. upped their price target on Cisco Systems from $69.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Rosenblatt Securities raised shares of Cisco Systems from a "neutral" rating to a "buy" rating and upped their target price for the stock from $66.00 to $80.00 in a research report on Thursday, February 13th. The Goldman Sachs Group lifted their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. BNP Paribas upgraded Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price target on the stock in a research note on Tuesday, January 28th. Finally, Citigroup cut their target price on Cisco Systems from $73.00 to $68.00 and set a "buy" rating on the stock in a research note on Monday. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $65.74.

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Cisco Systems Stock Performance

CSCO stock traded down $0.21 during trading on Tuesday, reaching $57.20. The stock had a trading volume of 14,647,359 shares, compared to its average volume of 20,075,905. The firm has a market cap of $227.56 billion, a PE ratio of 24.98, a PEG ratio of 4.16 and a beta of 0.86. 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's 50 day moving average is $61.19 and its two-hundred day moving average is $59.08. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50.

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

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. The ex-dividend date 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 2.87%. Cisco Systems's payout ratio is 71.62%.

Cisco Systems announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits 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 shares are undervalued.

Insiders Place Their Bets

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares of the company's stock, valued at $11,604,868.80. This trade represents a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Scott Herren sold 19,929 shares of Cisco Systems stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $1,283,626.89. Following the sale, the chief financial officer now directly owns 335,605 shares in the company, valued at $21,616,318.05. This trade represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,547 shares of company stock worth $4,275,553. Company insiders own 0.01% of the company's stock.

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.