Jag Capital Management LLC Buys 733 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Jag Capital Management LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,401 shares of the network equipment provider’s stock after purchasing an additional 733 shares during the period. Jag Capital Management LLC’s holdings in Cisco Systems were worth $4,464,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Morse Asset Management Inc purchased a new position in shares of Cisco Systems during the third quarter worth about $798,000. HighVista Strategies LLC bought a new stake in Cisco Systems in the third quarter valued at approximately $1,698,000. GAMMA Investing LLC raised its holdings in shares of Cisco Systems by 13.1% during the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock valued at $5,527,000 after acquiring an additional 10,813 shares in the last quarter. Oddo BHF Asset Management Sas bought a new position in shares of Cisco Systems during the third quarter valued at approximately $502,000. Finally, Quintet Private Bank Europe S.A. raised its holdings in shares of Cisco Systems by 17.0% during the third quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock valued at $33,830,000 after acquiring an additional 92,179 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Price Performance

CSCO stock opened at $63.48 on Tuesday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average of $61.32 and a two-hundred day moving average of $57.06. The stock has a market cap of $252.54 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released 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 net margin of 16.96% and a return on equity of 26.08%. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.58%. 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 payout ratio is 71.62%.

Cisco Systems announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Citigroup increased their price objective on Cisco Systems from $71.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Rosenblatt Securities raised Cisco Systems from a “neutral” rating to a “buy” rating and increased their target price for the company from $66.00 to $80.00 in a report on Thursday, February 13th. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Morgan Stanley raised their price objective on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. 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 stock. Based on data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and a consensus target price of $66.63.

Insider Activity at Cisco Systems

In related news, Director Kristina M. Johnson sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the sale, the director now owns 65,915 shares of the company’s stock, valued at approximately $3,946,331.05. This represents a 10.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the transaction, the senior vice president now directly owns 50,767 shares in the company, valued at approximately $2,979,515.23. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,848 shares of company stock worth $4,767,206 in the last quarter. 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.