Signature Wealth Management Group Sells 408 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Signature Wealth Management Group decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,114 shares of the network equipment provider’s stock after selling 408 shares during the period. Cisco Systems comprises 1.8% of Signature Wealth Management Group’s portfolio, making the stock its 13th biggest position. Signature Wealth Management Group’s holdings in Cisco Systems were worth $4,565,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. SlateStone Wealth LLC boosted its position in shares of Cisco Systems by 0.7% during the fourth quarter. SlateStone Wealth LLC now owns 145,333 shares of the network equipment provider’s stock worth $8,604,000 after purchasing an additional 1,002 shares in the last quarter. First National Advisers LLC increased its stake in shares of Cisco Systems by 3.1% during the 4th quarter. First National Advisers LLC now owns 23,414 shares of the network equipment provider’s stock worth $1,386,000 after purchasing an additional 708 shares during the last quarter. GWN Securities Inc. acquired a new position in Cisco Systems in the 4th quarter valued at about $769,000. Altus Wealth Group LLC grew its stake in Cisco Systems by 8.2% in the 4th quarter. Altus Wealth Group LLC now owns 5,962 shares of the network equipment provider’s stock valued at $353,000 after buying an additional 454 shares during the last quarter. Finally, Facet Wealth Inc. boosted its holdings in Cisco Systems by 6.1% in the 4th quarter. Facet Wealth Inc. now owns 3,926 shares of the network equipment provider’s stock valued at $244,000 after purchasing an additional 227 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Up 1.4 %

NASDAQ:CSCO opened at $60.50 on Friday. 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 12-month low of $44.50 and a 12-month high of $66.50. The firm has a market cap of $240.69 billion, a P/E ratio of 26.42, a PEG ratio of 4.16 and a beta of 0.79. The stock’s 50 day simple moving average is $61.79 and its 200-day simple moving average is $57.75.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be paid a $0.41 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.71%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is 71.62%.

Cisco Systems declared that its board 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 reacquire up to 6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages recently commented on CSCO. Piper Sandler reissued a “neutral” rating on shares of Cisco Systems in a research note on Thursday, March 6th. JPMorgan Chase & Co. increased their price objective on shares of Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. UBS Group increased their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. StockNews.com lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 5th. Finally, DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $66.63.

Insiders Place Their Bets

In other news, CFO Richard Scott Herren sold 19,929 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $1,283,626.89. Following the transaction, the chief financial officer now owns 335,605 shares of the company’s stock, valued at $21,616,318.05. This represents a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 736,120 shares in the company, valued at $47,413,489.20. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,547 shares of company stock valued at $4,275,553 over the last quarter. Insiders own 0.01% of the company’s stock.

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.