Broadway Wealth Solutions Inc. Buys Shares of 7,927 Cisco Systems, Inc. (NASDAQ:CSCO)

Broadway Wealth Solutions Inc. acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,927 shares of the network equipment provider’s stock, valued at approximately $469,000. Cisco Systems makes up 0.4% of Broadway Wealth Solutions Inc.’s portfolio, making the stock its 26th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSCO. New Age Alpha Advisors LLC raised its position in shares of Cisco Systems by 45,184.7% in the fourth quarter. New Age Alpha Advisors LLC now owns 225,518 shares of the network equipment provider’s stock valued at $13,351,000 after buying an additional 225,020 shares during the last quarter. Norges Bank acquired a new stake in shares of Cisco Systems during the fourth quarter worth $3,297,905,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Cisco Systems in the fourth quarter valued at $10,074,000. Blair William & Co. IL increased its stake in Cisco Systems by 0.7% in the fourth quarter. Blair William & Co. IL now owns 772,846 shares of the network equipment provider’s stock valued at $45,752,000 after purchasing an additional 5,302 shares during the last quarter. Finally, Rockbridge Investment Management LCC purchased a new position in Cisco Systems during the fourth quarter worth about $211,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CSCO shares. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. The Goldman Sachs Group lifted their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Citigroup reaffirmed an “overweight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Finally, UBS Group raised their price objective on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $66.63.

Insider Activity at Cisco Systems

In related news, CEO Charles Robbins sold 31,983 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction 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 trade represents a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the transaction, the senior vice president now directly owns 44,155 shares in the company, valued at $2,693,013.45. This represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,547 shares of company stock worth $4,275,553 in the last ninety days. 0.01% of the stock is owned by insiders.

Cisco Systems Trading Down 0.6 %

Cisco Systems stock opened at $61.40 on Friday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The firm’s 50-day moving average is $62.10 and its 200-day moving average is $58.38. 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 company has a market cap of $244.27 billion, a P/E ratio of 26.81, a PEG ratio of 4.16 and a beta of 0.79.

Cisco Systems (NASDAQ:CSCO) last issued its 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%. On average, equities analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is 71.62%.

Cisco Systems announced that its board has initiated a share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in 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 board of directors believes its shares are undervalued.

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.