Cisco Systems, Inc. (NASDAQ:CSCO) Position Raised by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 113,352 shares of the network equipment provider’s stock after buying an additional 629 shares during the quarter. Cisco Systems accounts for 1.9% of Lorne Steinberg Wealth Management Inc.’s investment portfolio, making the stock its 24th biggest holding. Lorne Steinberg Wealth Management Inc.’s holdings in Cisco Systems were worth $5,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSCO. Kathleen S. Wright Associates Inc. bought a new position in shares of Cisco Systems in the third quarter valued at $27,000. Valued Wealth Advisors LLC bought a new position in shares of Cisco Systems in the fourth quarter valued at $32,000. Morton Brown Family Wealth LLC increased its holdings in shares of Cisco Systems by 41.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 208 shares in the last quarter. Bourgeon Capital Management LLC increased its holdings in shares of Cisco Systems by 3,500.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 700 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new position in shares of Cisco Systems in the fourth quarter valued at $43,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 0.5 %

NASDAQ:CSCO traded up $0.24 during trading hours on Tuesday, reaching $48.38. The company’s stock had a trading volume of 8,294,240 shares, compared to its average volume of 19,371,064. The company has a market cap of $195.90 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 2.77 and a beta of 0.87. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19. The business’s 50-day moving average is $49.03 and its 200-day moving average is $50.17. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The firm had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. Cisco Systems’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 earnings per share. Equities research analysts predict that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be given a dividend of $0.40 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.31%. Cisco Systems’s payout ratio is currently 48.63%.

Wall Street Analyst Weigh In

CSCO has been the topic of several research reports. Citigroup initiated coverage on Cisco Systems in a report on Friday, April 12th. They issued a “neutral” rating and a $52.00 price target on the stock. JPMorgan Chase & Co. started coverage on shares of Cisco Systems in a research report on Monday. They set a “neutral” rating and a $53.00 price objective on the stock. Wells Fargo & Company started coverage on shares of Cisco Systems in a research report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price objective on the stock. 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. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $55.53.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the transaction, the executive vice president now owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the transaction, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the sale, the senior vice president now directly owns 58,121 shares in the company, valued at approximately $2,906,050. The disclosure for this sale can be found here. Insiders sold a total of 19,441 shares of company stock valued at $972,080 in the last quarter. Insiders own 0.02% of the company’s stock.

Cisco Systems Company Profile

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.