Cape ANN Savings Bank Takes Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Cape ANN Savings Bank bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 3,520 shares of the network equipment provider’s stock, valued at approximately $208,000.

Other hedge funds also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new position in shares of Cisco Systems during the fourth quarter valued at about $26,000. Highline Wealth Partners LLC grew its position in 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 purchasing an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Cisco Systems during the 3rd quarter valued at approximately $40,000. Decker Retirement Planning Inc. purchased a new position in shares of Cisco Systems in the fourth quarter worth $49,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Cisco Systems in the third quarter worth $51,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CSCO. StockNews.com downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Morgan Stanley increased their price objective on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Bank of America lifted their target price on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $66.53.

Cisco Systems Stock Down 1.1 %

Cisco Systems stock opened at $63.98 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The stock has a market capitalization of $254.53 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84. The business has a 50 day simple moving average of $60.65 and a 200-day simple moving average of $56.30. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued 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 return on equity of 26.08% and a net margin of 16.96%. On average, analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

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 paid a $0.41 dividend. 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 dividend on an annualized basis and a yield of 2.56%. Cisco Systems’s dividend payout ratio (DPR) is currently 69.87%.

Cisco Systems announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO Charles Robbins sold 31,983 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the transaction, the chief executive officer now owns 736,120 shares in the company, valued at $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 4,881 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total value of $291,542.13. Following the completion of the transaction, the senior vice president now directly owns 51,931 shares of the company’s stock, valued at approximately $3,101,838.63. This represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,921 shares of company stock worth $4,298,667. 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.