Kendall Capital Management Sells 5,051 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Kendall Capital Management lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 14.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,963 shares of the network equipment provider's stock after selling 5,051 shares during the quarter. Kendall Capital Management's holdings in Cisco Systems were worth $1,774,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Pflug Koory LLC boosted its position in shares of Cisco Systems by 0.5% in the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider's stock valued at $1,955,000 after acquiring an additional 165 shares during the period. Fairhaven Wealth Management LLC boosted its position in shares of Cisco Systems by 2.3% in the fourth quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider's stock valued at $449,000 after acquiring an additional 167 shares during the period. Maple Capital Management Inc. boosted its position in shares of Cisco Systems by 1.4% in the fourth quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider's stock valued at $709,000 after acquiring an additional 170 shares during the period. Pathway Financial Advisors LLC boosted its position in shares of Cisco Systems by 3.1% in the fourth quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider's stock valued at $343,000 after acquiring an additional 172 shares during the period. Finally, Beaumont Financial Advisors LLC boosted its position in shares of Cisco Systems by 1.7% in the fourth quarter. Beaumont Financial Advisors LLC now owns 10,591 shares of the network equipment provider's stock valued at $627,000 after acquiring an additional 173 shares during the period. 73.33% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Melius Research upgraded Cisco Systems from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 18th. Rosenblatt Securities upgraded Cisco Systems from a "neutral" rating to a "buy" rating and upped their target price for the company from $66.00 to $80.00 in a research note on Thursday, February 13th. Bank of America upped their target price on Cisco Systems from $60.00 to $72.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Finally, Morgan Stanley upped their target price on Cisco Systems from $62.00 to $68.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $66.63.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 3,042 shares of Cisco Systems stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total value of $180,055.98. Following the sale, the executive vice president now owns 207,798 shares of the company's stock, valued at approximately $12,299,563.62. This trade represents a 1.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of Cisco Systems stock in a transaction that occurred on Thursday, December 12th. The shares were 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 directly owns 50,767 shares in the company, valued at approximately $2,979,515.23. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,348 shares of company stock worth $4,318,181 in the last 90 days. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Trading Up 0.8 %

CSCO traded up $0.53 during midday trading on Friday, reaching $63.94. 21,153,303 shares of the company were exchanged, compared to its average volume of 20,042,023. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The stock has a market capitalization of $254.37 billion, a P/E ratio of 27.92, a PEG ratio of 4.16 and a beta of 0.79. The stock's 50-day simple moving average is $61.63 and its 200 day simple moving average is $57.44.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (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%. As a group, analysts forecast 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. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Thursday, April 3rd. This is a boost 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 authorized a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

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.