Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by 44 Wealth Management LLC

44 Wealth Management LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 65,950 shares of the network equipment provider’s stock after selling 2,791 shares during the quarter. Cisco Systems makes up approximately 1.5% of 44 Wealth Management LLC’s investment portfolio, making the stock its 5th largest position. 44 Wealth Management LLC’s holdings in Cisco Systems were worth $3,904,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CSCO. Pflug Koory LLC increased its holdings in Cisco Systems by 0.5% during the 4th quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock worth $1,955,000 after acquiring an additional 165 shares during the period. Pathway Financial Advisors LLC increased its holdings in Cisco Systems by 3.1% during the 4th quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider’s stock worth $343,000 after acquiring an additional 172 shares during the period. Beaumont Financial Advisors LLC increased its holdings in Cisco Systems by 1.7% during the 4th quarter. Beaumont Financial Advisors LLC now owns 10,591 shares of the network equipment provider’s stock worth $627,000 after acquiring an additional 173 shares during the period. SeaCrest Wealth Management LLC increased its holdings in Cisco Systems by 0.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 31,744 shares of the network equipment provider’s stock worth $1,879,000 after acquiring an additional 178 shares during the period. Finally, Aviso Wealth Management increased its holdings in Cisco Systems by 2.4% during the 3rd quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock worth $405,000 after acquiring an additional 181 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Trading Down 1.1 %

Shares of CSCO opened at $63.98 on Friday. The stock has a market capitalization of $254.53 billion, a P/E ratio of 27.94, a PEG ratio of 4.17 and a beta of 0.84. 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 firm has a fifty day simple moving average of $60.65 and a two-hundred day simple moving average of $56.15. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50.

Cisco Systems (NASDAQ:CSCO) last announced 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 net margin of 16.96% and a return on equity of 26.08%. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

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

Cisco Systems announced that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CSCO. Barclays upped their target price on shares of Cisco Systems from $56.00 to $61.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Citigroup increased their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a 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 stock a “buy” rating in a report on Thursday, November 14th. Finally, Melius raised shares of 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 report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.53.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 19,929 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $1,283,626.89. Following the completion of the sale, the chief financial officer now directly owns 335,605 shares of the company’s stock, valued at approximately $21,616,318.05. This trade represents a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Charles Robbins sold 31,983 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the sale, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. This represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,921 shares of company stock valued at $4,298,667 in the last quarter. Company insiders own 0.01% of the company’s stock.

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.