786 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Purchased by IMG Wealth Management Inc.

IMG Wealth Management Inc. acquired a new position in Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, HoldingsChannel reports. The fund acquired 786 shares of the network equipment provider’s stock, valued at approximately $47,000.

A number of other hedge funds also recently added to or reduced their stakes in CSCO. FPC Investment Advisory Inc. purchased a new stake in Cisco Systems in the fourth quarter worth about $26,000. Campbell Capital Management Inc. purchased a new stake in shares of Cisco Systems during the fourth quarter valued at about $31,000. Highline Wealth Partners LLC lifted its position in shares of Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after buying an additional 260 shares during the last quarter. Synergy Investment Management LLC purchased a new stake in shares of Cisco Systems during the fourth quarter valued at about $36,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of Cisco Systems during the third quarter valued at about $40,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $60.89 on Tuesday. The stock has a market capitalization of $242.24 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The firm’s 50 day simple moving average is $61.83 and its 200-day simple moving average is $57.88. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data 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 return on equity of 26.08% and a net margin of 16.96%. Analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.69%. Cisco Systems’s dividend payout ratio (DPR) is presently 71.62%.

Cisco Systems declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

CSCO has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the company from $66.00 to $73.00 in a research report on Monday, January 6th. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Finally, StockNews.com downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and an average target price of $66.63.

Insider Activity

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