Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys 14,568 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 258,127 shares of the network equipment provider’s stock after buying an additional 14,568 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Cisco Systems were worth $13,041,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CSCO. Valued Wealth Advisors LLC bought a new position in Cisco Systems during the fourth quarter worth about $32,000. DiNuzzo Private Wealth Inc. bought a new position in Cisco Systems during the fourth quarter worth about $33,000. Morton Brown Family Wealth LLC lifted its stake in Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares during the period. Bourgeon Capital Management LLC lifted its stake in Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 700 shares during the period. Finally, Rakuten Securities Inc. bought a new position in Cisco Systems during the fourth quarter worth about $43,000. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 9th. UBS Group raised their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, February 12th. JPMorgan Chase & Co. started coverage on shares of Cisco Systems in a report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price target for the company. Barclays raised their price target on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Finally, StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and a consensus price target of $55.53.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the transaction, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,441 shares of company stock worth $972,080. Company insiders own 0.02% of the company’s stock.

Cisco Systems Stock Down 0.0 %

CSCO traded down $0.01 during trading on Monday, reaching $47.11. 14,161,773 shares of the stock were exchanged, compared to its average volume of 19,119,422. The stock has a market cap of $190.76 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 2.72 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The stock’s 50 day moving average price is $48.77 and its two-hundred day moving average price is $49.73. Cisco Systems, Inc. has a twelve month low of $45.70 and a twelve month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The company had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 EPS. Equities analysts expect that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.40%. Cisco Systems’s payout ratio is presently 48.63%.

Cisco Systems 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.