Gryphon Financial Partners LLC Has $1.45 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Gryphon Financial Partners LLC boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 24,510 shares of the network equipment provider’s stock after buying an additional 1,768 shares during the period. Gryphon Financial Partners LLC’s holdings in Cisco Systems were worth $1,451,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. FMR LLC lifted its position in shares of Cisco Systems by 10.1% in the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after purchasing an additional 5,885,879 shares in the last quarter. Two Sigma Advisers LP increased its stake in Cisco Systems by 327.5% in the 3rd quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock valued at $362,907,000 after buying an additional 5,223,800 shares during the period. National Bank of Canada FI lifted its position in Cisco Systems by 79.6% in the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock worth $477,463,000 after buying an additional 3,975,028 shares in the last quarter. State Street Corp boosted its stake in shares of Cisco Systems by 1.7% during the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after buying an additional 3,241,682 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Cisco Systems by 87.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,541,607 shares of the network equipment provider’s stock valued at $294,923,000 after acquiring an additional 2,591,684 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 11,808 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $64.37, for a total value of $760,080.96. Following the completion of the transaction, the executive vice president now directly owns 200,191 shares in the company, valued at approximately $12,886,294.67. This represents a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of Cisco Systems stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the sale, the senior vice president now owns 50,767 shares in the company, valued at $2,979,515.23. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,848 shares of company stock valued at $4,767,206 in the last quarter. Corporate insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

CSCO has been the subject of a number of research reports. Bank of America lifted their price objective on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. lifted their price target on Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Tuesday, January 28th. Barclays lifted their target price on shares of Cisco Systems from $56.00 to $61.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. Finally, UBS Group increased their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.63.

Cisco Systems Stock Up 0.5 %

CSCO opened at $64.14 on Monday. The business has a 50 day moving average of $61.23 and a 200-day moving average of $56.95. The stock has a market capitalization of $255.15 billion, a price-to-earnings ratio of 28.01, a P/E/G ratio of 4.16 and a beta of 0.84. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50.

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

Cisco Systems declared that its Board of Directors has approved a share repurchase 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 buy up to 6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.56%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s payout ratio is currently 71.62%.

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.