FUKOKU MUTUAL LIFE INSURANCE Co Purchases 1,500 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

FUKOKU MUTUAL LIFE INSURANCE Co lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.2% in the fourth quarter, HoldingsChannel reports. The firm owned 602,815 shares of the network equipment provider’s stock after purchasing an additional 1,500 shares during the period. Cisco Systems accounts for 2.6% of FUKOKU MUTUAL LIFE INSURANCE Co’s holdings, making the stock its 8th biggest position. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Cisco Systems were worth $35,687,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. FPC Investment Advisory Inc. bought a new position in shares of Cisco Systems in the 4th quarter valued at approximately $26,000. Highline Wealth Partners LLC raised its stake in shares of Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after acquiring an additional 260 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Cisco Systems in the 3rd quarter valued at approximately $40,000. Decker Retirement Planning Inc. bought a new position in shares of Cisco Systems in the 4th quarter valued at approximately $49,000. Finally, Capital Performance Advisors LLP bought a new position in Cisco Systems in the 3rd quarter worth approximately $51,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CSCO. Morgan Stanley lifted their price target on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. The Goldman Sachs Group increased their price objective 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 increased their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Bank of America increased their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Seven 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 a consensus target price of $66.53.

Insider Buying and Selling

In related news, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the sale, the chief executive officer now directly owns 736,120 shares in the company, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 586 shares of Cisco Systems stock in a transaction dated Thursday, December 12th. The stock was 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 owns 50,767 shares of the company’s stock, valued at $2,979,515.23. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,848 shares of company stock worth $4,767,206. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Price Performance

CSCO opened at $64.08 on Thursday. The stock has a 50-day moving average price of $61.00 and a 200-day moving average price of $56.61. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The firm has a market cap of $254.93 billion, a PE ratio of 27.98, a P/E/G ratio of 4.16 and a beta of 0.84. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50.

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

Cisco Systems Increases Dividend

The firm 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 annualized dividend and a yield of 2.56%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 71.62%.

Cisco Systems announced that its board has approved a stock repurchase program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board 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.