Kuhn & Co Investment Counsel lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 38.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,170 shares of the network equipment provider's stock after selling 4,530 shares during the period. Kuhn & Co Investment Counsel's holdings in Cisco Systems were worth $424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC increased its holdings in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock valued at $35,000 after purchasing an additional 260 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Cisco Systems during the third quarter valued at $40,000. Decker Retirement Planning Inc. purchased a new position in Cisco Systems in the fourth quarter valued at $49,000. Capital Performance Advisors LLP acquired a new position in shares of Cisco Systems in the third quarter worth about $51,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Cisco Systems during the 3rd quarter worth about $56,000. 73.33% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Cisco Systems
In other news, EVP Thimaya K. Subaiya sold 3,042 shares of the company's stock in a transaction 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 transaction, the executive vice president now owns 207,798 shares of the company's stock, valued at $12,299,563.62. This represents a 1.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the business's stock in a transaction dated Friday, February 14th. The shares were 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 owns 736,120 shares in the company, valued at approximately $47,413,489.20. This trade 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 worth $4,298,667 in the last 90 days. Insiders own 0.01% of the company's stock.
Cisco Systems Trading Up 0.4 %
NASDAQ CSCO traded up $0.25 on Wednesday, reaching $64.84. 14,158,800 shares of the company were exchanged, compared to its average volume of 19,944,307. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The business's fifty day moving average price is $60.31 and its 200 day moving average price is $55.89. The stock has a market capitalization of $258.24 billion, a P/E ratio of 28.31, a price-to-earnings-growth ratio of 4.55 and a beta of 0.84. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50.
Cisco Systems (NASDAQ:CSCO - Get Free Report) 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%. Analysts forecast that Cisco Systems, Inc. will post 3.01 earnings per share for the current year.
Cisco Systems declared that its board has initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management 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. Stockholders of record on Thursday, April 3rd will be paid a $0.41 dividend. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.53%. Cisco Systems's dividend payout ratio is 69.87%.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the company. Bank of America lifted their price target on Cisco Systems from $60.00 to $72.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. upped their target price on Cisco Systems from $69.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. StockNews.com upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, February 14th. Citigroup boosted 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. Finally, Wells Fargo & Company increased their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the company an "equal weight" rating in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $66.53.
Check Out Our Latest Report on Cisco Systems
Cisco Systems Company Profile
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Free Report)
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.
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