Frank Rimerman Advisors LLC Grows Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Frank Rimerman Advisors LLC increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.4% in the fourth quarter, HoldingsChannel reports. The firm owned 77,462 shares of the network equipment provider’s stock after purchasing an additional 4,684 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Cisco Systems were worth $4,586,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new position in Cisco Systems during the fourth quarter valued at $26,000. Campbell Capital Management Inc. purchased a new position in Cisco Systems during the fourth quarter valued at $31,000. Highline Wealth Partners LLC raised its stake in 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 position in Cisco Systems during the fourth quarter valued at $36,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in Cisco Systems during the third quarter valued at $40,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their price objective on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. DZ Bank upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. UBS Group boosted their price target on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Barclays restated an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, Citigroup restated an “overweight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $66.63.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $60.50 on Friday. The stock has a 50-day simple moving average of $61.79 and a two-hundred day simple moving average of $57.70. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The firm has a market capitalization of $240.69 billion, a PE ratio of 26.42, a P/E/G ratio of 4.16 and a beta of 0.79.

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 the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The firm 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 $0.41 dividend. This is a positive change 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 2.71%. Cisco Systems’s dividend payout ratio is 71.62%.

Cisco Systems declared that its board has authorized a share repurchase program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 31,983 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, the chief executive officer now owns 736,120 shares of the company’s stock, valued at $47,413,489.20. This represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. This trade represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,547 shares of company stock valued at $4,275,553 over the last 90 days. Company 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.