Jackson Grant Investment Advisers Inc. Grows Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Jackson Grant Investment Advisers Inc. raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,977 shares of the network equipment provider’s stock after acquiring an additional 555 shares during the period. Jackson Grant Investment Advisers Inc.’s holdings in Cisco Systems were worth $216,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Horan Securities Inc. boosted its position in shares of Cisco Systems by 663.0% in the fourth quarter. Horan Securities Inc. now owns 763 shares of the network equipment provider’s stock worth $33,000 after buying an additional 663 shares during the period. Contravisory Investment Management Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter worth about $49,000. Highwater Wealth Management LLC purchased a new stake in shares of Cisco Systems in the fourth quarter worth about $51,000. Acropolis Investment Management LLC purchased a new stake in shares of Cisco Systems in the fourth quarter worth about $101,000. Finally, LFA Lugano Financial Advisors SA boosted its position in shares of Cisco Systems by 220,000.0% in the third quarter. LFA Lugano Financial Advisors SA now owns 2,201 shares of the network equipment provider’s stock worth $107,000 after buying an additional 2,200 shares during the period. 69.16% of the stock is owned by hedge funds and other institutional investors.

In other news, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $51.70, for a total transaction of $3,619,000.00. Following the sale, the chief financial officer now directly owns 420,696 shares in the company, valued at approximately $21,749,983.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Goeckeler sold 30,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $52.07, for a total value of $1,562,100.00. Following the completion of the transaction, the executive vice president now directly owns 419,439 shares of the company’s stock, valued at $21,840,188.73. The disclosure for this sale can be found here. Insiders have sold a total of 115,000 shares of company stock worth $5,926,000 over the last quarter. Insiders own 0.03% of the company’s stock.

Several brokerages have recently weighed in on CSCO. BidaskClub downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. KeyCorp increased their price target on Cisco Systems from $55.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, March 25th. Goldman Sachs Group downgraded Cisco Systems from a “conviction-buy” rating to a “buy” rating and increased their price target for the company from $58.00 to $62.00 in a report on Tuesday, April 16th. Jefferies Financial Group increased their price target on Cisco Systems to $55.00 and gave the company a “buy” rating in a report on Thursday, February 14th. They noted that the move was a valuation call. Finally, Citigroup increased their price target on Cisco Systems from $52.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, February 14th. Six analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Cisco Systems has an average rating of “Buy” and an average price target of $54.35.

NASDAQ CSCO traded up $0.44 on Friday, hitting $53.36. 21,283,724 shares of the stock traded hands, compared to its average volume of 18,109,834. The company has a quick ratio of 1.74, a current ratio of 1.80 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $254.94 billion, a P/E ratio of 22.80, a PEG ratio of 2.75 and a beta of 1.21. Cisco Systems, Inc. has a twelve month low of $40.25 and a twelve month high of $57.53.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 13th. The network equipment provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $12.45 billion for the quarter, compared to analysts’ expectations of $12.43 billion. Cisco Systems had a return on equity of 27.58% and a net margin of 25.31%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. On average, analysts anticipate that Cisco Systems, Inc. will post 2.75 EPS for the current year.

Cisco Systems declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 13th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Friday, April 5th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.62%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, April 4th. Cisco Systems’s dividend payout ratio is presently 59.83%.

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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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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