Centric Wealth Management Acquires 3,119 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Centric Wealth Management lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,514 shares of the network equipment provider’s stock after purchasing an additional 3,119 shares during the quarter. Centric Wealth Management’s holdings in Cisco Systems were worth $1,907,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CSCO. Charles Schwab Investment Management Inc. grew its stake in Cisco Systems by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock valued at $3,672,445,000 after purchasing an additional 6,345,954 shares in the last quarter. FMR LLC increased its holdings in Cisco Systems by 3.2% during the third quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock worth $3,069,815,000 after buying an additional 1,790,717 shares during the last quarter. Northern Trust Corp increased its holdings in Cisco Systems by 3.8% during the third quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock worth $2,717,537,000 after buying an additional 1,847,682 shares during the last quarter. Invesco Ltd. increased its holdings in Cisco Systems by 3.7% during the third quarter. Invesco Ltd. now owns 33,536,256 shares of the network equipment provider’s stock worth $1,802,909,000 after buying an additional 1,181,327 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in Cisco Systems by 25.0% during the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock worth $947,262,000 after buying an additional 3,753,165 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at approximately $2,906,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The disclosure for this sale can be found here. Insiders have sold 19,441 shares of company stock worth $972,080 over the last ninety days. Insiders own 0.02% of the company’s stock.

Cisco Systems Trading Up 1.6 %

Shares of Cisco Systems stock traded up $0.75 on Wednesday, hitting $48.03. The stock had a trading volume of 8,732,840 shares, compared to its average volume of 18,942,313. The stock has a 50 day moving average of $48.75 and a 200 day moving average of $49.69. Cisco Systems, Inc. has a twelve month low of $45.70 and a twelve month high of $58.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The firm has a market capitalization of $194.48 billion, a P/E ratio of 14.37, a PEG ratio of 2.72 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The company had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. During the same quarter in the prior year, the firm posted $0.76 earnings per share. The firm’s revenue was down 5.9% compared to the same quarter last year. Sell-side analysts expect that Cisco Systems, Inc. will post 3.13 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 3.33%. Cisco Systems’s dividend payout ratio is presently 48.63%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CSCO shares. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. Barclays lifted their price objective on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Morgan Stanley initiated coverage on shares of Cisco Systems in a research report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price for the company. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the company from $55.00 to $60.00 in a research report on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $55.53.

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.