Dagco Inc. Boosts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Dagco Inc. lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 16.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,262 shares of the network equipment provider’s stock after buying an additional 1,320 shares during the quarter. Dagco Inc.’s holdings in Cisco Systems were worth $548,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CSCO. Canada Post Corp Registered Pension Plan purchased a new position in shares of Cisco Systems in the fourth quarter valued at $5,389,000. Defined Financial Planning LLC purchased a new position in Cisco Systems during the 4th quarter valued at about $287,000. Broyhill Asset Management bought a new stake in shares of Cisco Systems during the fourth quarter valued at about $494,000. Investment Counsel Co. of Nevada purchased a new stake in shares of Cisco Systems in the fourth quarter worth about $41,000. Finally, Icon Advisers Inc. Co. boosted its position in shares of Cisco Systems by 21.3% in the fourth quarter. Icon Advisers Inc. Co. now owns 65,390 shares of the network equipment provider’s stock valued at $3,871,000 after acquiring an additional 11,490 shares during the period. 73.33% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the sale, the executive vice president now owns 191,184 shares in the company, valued at approximately $11,604,868.80. This represents a 1.07 % decrease in their ownership of the stock. 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 762 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the sale, the senior vice president now directly owns 44,155 shares in the company, valued at approximately $2,693,013.45. This represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CSCO has been the topic of several recent analyst reports. Rosenblatt Securities upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their target price for the stock from $66.00 to $80.00 in a research note on Thursday, February 13th. Citigroup reissued an “overweight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. JPMorgan Chase & Co. raised their price target on Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Morgan Stanley raised their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, StockNews.com lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average price target of $66.00.

Cisco Systems Stock Up 1.3 %

Shares of Cisco Systems stock opened at $57.33 on Monday. The company’s fifty day simple moving average is $61.30 and its two-hundred day simple moving average is $59.05. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a market cap of $228.08 billion, a P/E ratio of 25.04, a PEG ratio of 4.16 and a beta of 0.86.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (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%. Research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems announced that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Cisco Systems Increases Dividend

The company 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. This represents a $1.64 annualized dividend and a yield of 2.86%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio is presently 71.62%.

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.