Crestwood Advisors Group LLC Has $10.74 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Crestwood Advisors Group LLC grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 181,493 shares of the network equipment provider’s stock after purchasing an additional 5,941 shares during the period. Crestwood Advisors Group LLC’s holdings in Cisco Systems were worth $10,744,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Morse Asset Management Inc bought a new position in Cisco Systems during the 3rd quarter worth $798,000. HighVista Strategies LLC acquired a new position in shares of Cisco Systems in the third quarter valued at about $1,698,000. GAMMA Investing LLC increased its position in Cisco Systems by 13.1% during the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after acquiring an additional 10,813 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in Cisco Systems in the 3rd quarter worth about $502,000. Finally, Quintet Private Bank Europe S.A. boosted its holdings in Cisco Systems by 17.0% in the 3rd 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 purchasing an additional 92,179 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 1.1 %

NASDAQ CSCO opened at $63.98 on Monday. The company has a market cap of $254.53 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month 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’s fifty day moving average is $60.65 and its 200 day moving average is $56.30.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share 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, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its Board of Directors has authorized a share buyback program 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 programs are generally an indication that the company’s management believes its stock is undervalued.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend 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 presently 69.87%.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 4,881 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total value of $291,542.13. Following the sale, the senior vice president now directly owns 51,931 shares in the company, valued at $3,101,838.63. This represents a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Richard Scott Herren sold 19,929 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the transaction, the chief financial officer now owns 335,605 shares of the company’s stock, valued at approximately $21,616,318.05. The trade was a 5.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,921 shares of company stock worth $4,298,667. Company insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CSCO shares. Citigroup lifted their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Bank of America raised their price objective on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. The Goldman Sachs Group upped their target price on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Piper Sandler raised their price target on Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.53.

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.