Oliver Luxxe Assets LLC Purchases Shares of 3,685 Cisco Systems, Inc. (NASDAQ:CSCO)

Oliver Luxxe Assets LLC purchased a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,685 shares of the network equipment provider’s stock, valued at approximately $218,000.

Several other hedge funds have also recently modified their holdings of the stock. Quarry LP increased its stake in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares in the last quarter. West Financial Advisors LLC raised its stake in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares during the last quarter. Highline Wealth Partners LLC grew its stake in Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of Cisco Systems in the third quarter valued at about $40,000. Finally, Decker Retirement Planning Inc. purchased a new position in shares of Cisco Systems in the fourth quarter worth about $49,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Up 1.0 %

CSCO stock opened at $62.23 on Friday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $62.32. The company has a market cap of $247.85 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 4.59 and a beta of 0.84. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average of $59.04 and a two-hundred day moving average of $53.86.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter in the previous year, the company posted $0.98 EPS. The company’s revenue was down 5.6% compared to the same quarter last year. As a group, analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s payout ratio is presently 68.67%.

Wall Street Analyst Weigh In

CSCO has been the topic of several research reports. Barclays increased their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Bank of America boosted their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Citigroup boosted their price objective on Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a report on Friday, January 17th. Finally, StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.50.

Insider Buying and Selling

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Richard Scott Herren sold 86,351 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the sale, the chief financial officer now directly owns 365,314 shares in the company, valued at $21,001,901.86. This trade represents a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 353,522 shares of company stock worth $20,349,721. Company insiders own 0.01% of the company’s stock.

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.