Pinebridge Investments L.P. Decreases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Pinebridge Investments L.P. reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 27.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 686,088 shares of the network equipment provider's stock after selling 253,628 shares during the period. Pinebridge Investments L.P.'s holdings in Cisco Systems were worth $40,616,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FPC Investment Advisory Inc. purchased a new stake in shares of Cisco Systems during the 4th quarter worth approximately $26,000. Runnymede Capital Advisors Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $30,000. Campbell Capital Management Inc. acquired a new position in shares of Cisco Systems during the 4th quarter worth $31,000. Highline Wealth Partners LLC grew its holdings in shares of Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock worth $35,000 after acquiring an additional 260 shares during the period. Finally, Synergy Investment Management LLC purchased a new position in shares of Cisco Systems in the fourth quarter valued at $36,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CSCO has been the topic of a number of research analyst reports. StockNews.com lowered Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 5th. Rosenblatt Securities decreased their target price on shares of Cisco Systems from $80.00 to $63.00 and set a "buy" rating for the company in a research note on Tuesday. Melius upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and lifted their price target for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. dropped their target price on shares of Cisco Systems from $73.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Cisco Systems in a report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and an average target price of $64.68.

Insider Activity at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now owns 191,184 shares of the company's stock, valued at $11,604,868.80. This represents a 1.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the transaction, the senior vice president now directly owns 44,155 shares in the company, valued at approximately $2,693,013.45. The trade was a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,547 shares of company stock worth $4,275,553 over the last ninety days. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Stock Up 0.7 %

CSCO traded up $0.42 during mid-day trading on Friday, reaching $56.71. 16,493,138 shares of the stock were exchanged, compared to its average volume of 20,200,511. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The company has a 50 day moving average price of $59.99 and a two-hundred day moving average price of $59.16. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The stock has a market capitalization of $225.61 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 4.16 and a beta of 0.86.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 EPS 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%. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.89%. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's payout ratio is currently 71.62%.

Cisco Systems declared that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

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.