HB Wealth Management LLC Buys 8,275 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

HB Wealth Management LLC increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 324,746 shares of the network equipment provider’s stock after acquiring an additional 8,275 shares during the quarter. HB Wealth Management LLC’s holdings in Cisco Systems were worth $19,225,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after acquiring an additional 5,885,879 shares during the last quarter. Two Sigma Advisers LP lifted its stake in Cisco Systems by 327.5% in the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock worth $362,907,000 after purchasing an additional 5,223,800 shares during the last quarter. Pathway Financial Advisers LLC boosted its position in Cisco Systems by 5,231.5% during the third quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock valued at $262,646,000 after buying an additional 4,842,542 shares during the period. National Bank of Canada FI increased its holdings in shares of Cisco Systems by 79.6% in the third quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock worth $477,463,000 after buying an additional 3,975,028 shares during the period. Finally, State Street Corp lifted its stake in shares of Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after acquiring an additional 3,241,682 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Barclays increased their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Tigress Financial increased their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and an average price target of $61.50.

Cisco Systems Price Performance

Cisco Systems stock opened at $60.23 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The company has a market cap of $239.88 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 4.37 and a beta of 0.84. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $60.95. The firm has a 50 day moving average price of $58.91 and a 200 day moving average price of $53.52.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. Sell-side analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Insider Buying and Selling

In other news, EVP Deborah L. Stahlkopf sold 58,188 shares of Cisco Systems stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $3,345,228.12. Following the transaction, the executive vice president now owns 219,100 shares of the company’s stock, valued at $12,596,059. The trade was a 20.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock worth $20,349,721 over the last ninety days. 0.01% of the stock is owned by insiders.

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.