Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 704,398 shares of the network equipment provider's stock after selling 7,243 shares during the period. Cisco Systems makes up approximately 1.0% of Martingale Asset Management L P's portfolio, making the stock its 11th biggest holding. Martingale Asset Management L P's holdings in Cisco Systems were worth $41,700,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. FPC Investment Advisory Inc. purchased a new position in shares of Cisco Systems during the 4th quarter worth approximately $26,000. Runnymede Capital Advisors Inc. acquired a new stake in Cisco Systems in the fourth quarter valued at $30,000. Campbell Capital Management Inc. purchased a new stake in shares of Cisco Systems during the 4th quarter worth $31,000. Highline Wealth Partners LLC grew its stake 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 worth $35,000 after purchasing an additional 260 shares during the period. Finally, Synergy Investment Management LLC acquired a new stake in shares of Cisco Systems in the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Trading Up 1.3 %

Shares of NASDAQ CSCO traded up $0.74 on Friday, reaching $57.33. 23,031,744 shares of the company traded hands, compared to its average volume of 20,115,075. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The company has a 50 day moving average of $61.30 and a 200 day moving average of $59.05. The stock has a market capitalization of $228.08 billion, a PE ratio of 25.04, a P/E/G ratio of 4.16 and a beta of 0.86. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

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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 for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. On average, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a $0.41 dividend. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.86%. The ex-dividend date is Thursday, April 3rd. Cisco Systems's dividend payout ratio is currently 71.62%.

Cisco Systems announced that its board has authorized a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

CSCO has been the subject of a number of research reports. Citigroup reiterated an "overweight" rating on shares of Cisco Systems in a research report on Thursday, March 6th. Wells Fargo & Company reiterated an "equal weight" rating on shares of Cisco Systems in a research report on Thursday, March 6th. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a report on Thursday, March 6th. UBS Group boosted 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. Finally, Rosenblatt Securities raised shares of Cisco Systems from a "neutral" rating to a "buy" rating and increased their price objective for the company from $66.00 to $80.00 in a research note on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $66.00.

Insiders Place Their Bets

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares in the company, valued at approximately $11,604,868.80. The trade was a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 31,983 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, the chief executive officer now directly owns 736,120 shares of the company's stock, valued at $47,413,489.20. This represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,547 shares of company stock worth $4,275,553 over the last quarter. 0.01% of the stock is owned by corporate insiders.

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.