Boothe Investment Group Inc. Has $2.36 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Boothe Investment Group Inc. lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,828 shares of the network equipment provider’s stock after purchasing an additional 1,226 shares during the quarter. Cisco Systems accounts for 1.0% of Boothe Investment Group Inc.’s investment portfolio, making the stock its 28th largest holding. Boothe Investment Group Inc.’s holdings in Cisco Systems were worth $2,358,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Swedbank AB raised its position in Cisco Systems by 0.6% in the 3rd quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock valued at $480,555,000 after buying an additional 52,711 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Cisco Systems by 6.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 171,490 shares of the network equipment provider’s stock valued at $9,127,000 after buying an additional 10,895 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in Cisco Systems by 4.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,586,581 shares of the network equipment provider’s stock valued at $452,526,000 after buying an additional 347,061 shares during the last quarter. Mattern Capital Management LLC raised its position in Cisco Systems by 0.6% in the 3rd quarter. Mattern Capital Management LLC now owns 169,711 shares of the network equipment provider’s stock valued at $9,032,000 after buying an additional 1,046 shares during the last quarter. Finally, Smith Salley Wealth Management raised its position in Cisco Systems by 0.9% in the 3rd quarter. Smith Salley Wealth Management now owns 68,758 shares of the network equipment provider’s stock valued at $3,659,000 after buying an additional 580 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 3,042 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $59.19, for a total value of $180,055.98. Following the sale, the executive vice president now owns 207,798 shares of the company’s stock, valued at $12,299,563.62. This trade represents a 1.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 586 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the sale, the senior vice president now directly owns 50,767 shares in the company, valued at approximately $2,979,515.23. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,921 shares of company stock worth $4,298,667 in the last quarter. 0.01% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Bank of America increased their price target on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. StockNews.com downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday. JPMorgan Chase & Co. upped their price objective on Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Citigroup upped their price objective on Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.53.

Cisco Systems Stock Down 1.1 %

CSCO stock opened at $63.98 on Monday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The stock has a fifty day moving average of $60.65 and a 200-day moving average of $56.30. 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 capitalization of $254.53 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 4.16 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. As a group, equities research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

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

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 annualized dividend and a yield of 2.56%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is currently 69.87%.

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.