Cisco Systems, Inc. (NASDAQ:CSCO) Stake Decreased by ProVise Management Group LLC

ProVise Management Group LLC decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 53.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,525 shares of the network equipment provider's stock after selling 6,230 shares during the period. ProVise Management Group LLC's holdings in Cisco Systems were worth $327,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Swedbank AB lifted its stake in shares of Cisco Systems by 0.6% during the third quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider's stock valued at $480,555,000 after buying an additional 52,711 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of Cisco Systems by 52.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 2,615 shares of the network equipment provider's stock worth $139,000 after purchasing an additional 899 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of Cisco Systems during the third quarter worth $1,529,000. Jennison Associates LLC grew its position in shares of Cisco Systems by 4.4% in the third quarter. Jennison Associates LLC now owns 3,547,956 shares of the network equipment provider's stock valued at $188,822,000 after purchasing an additional 150,539 shares during the period. Finally, R. W. Roge & Company Inc. acquired a new position in Cisco Systems in the third quarter valued at $211,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the transaction, the executive vice president now directly owns 191,184 shares of the company's stock, valued at approximately $11,604,868.80. The trade was a 1.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following 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 position. The disclosure for this sale can be found here. Insiders sold a total of 66,547 shares of company stock worth $4,275,553 over the last 90 days. Insiders own 0.01% of the company's stock.

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Analysts Set New Price Targets

A number of research analysts have recently commented on CSCO shares. JPMorgan Chase & Co. upped their price objective on shares of Cisco Systems from $69.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Citigroup reaffirmed 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 report on Thursday, March 6th. DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. Finally, BNP Paribas upgraded Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 target price on the stock in a report on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of "Moderate Buy" and a consensus price target of $66.63.

Cisco Systems Stock Up 1.1 %

NASDAQ CSCO traded up $0.67 during mid-day trading on Monday, reaching $60.97. 28,313,023 shares of the company's stock traded hands, compared to its average volume of 18,050,480. 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 1-year low of $44.50 and a 1-year high of $66.50. The company has a fifty day simple moving average of $61.95 and a 200-day simple moving average of $58.17. The company has a market cap of $242.56 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 4.16 and a beta of 0.79.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly 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, equities research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems announced that its board has initiated a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Thursday, April 3rd. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's payout ratio is currently 71.62%.

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.