Valley Wealth Managers Inc. Sells 8,075 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Valley Wealth Managers Inc. cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 417,549 shares of the network equipment provider's stock after selling 8,075 shares during the quarter. Cisco Systems accounts for 1.8% of Valley Wealth Managers Inc.'s portfolio, making the stock its 10th biggest holding. Valley Wealth Managers Inc.'s holdings in Cisco Systems were worth $24,719,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CSCO. Highline Wealth Partners LLC boosted its position in Cisco Systems by 76.7% during the fourth 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 in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in Cisco Systems during the third quarter worth $40,000. Decker Retirement Planning Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter valued at $49,000. Capital Performance Advisors LLP purchased a new stake in shares of Cisco Systems in the third quarter valued at $51,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Cisco Systems in the third quarter valued at $56,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Stock Down 0.3 %

CSCO traded down $0.19 on Friday, reaching $64.48. The company's stock had a trading volume of 5,332,500 shares, compared to its average volume of 19,353,736. The stock has a market cap of $256.51 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 4.17 and a beta of 0.84. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The business's 50 day moving average is $60.55 and its 200 day moving average is $56.01.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm 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. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.54%. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's dividend payout ratio is currently 71.62%.

Cisco Systems announced that its Board of Directors has authorized a share repurchase 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 purchase up to 6% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CSCO. Morgan Stanley upped their price objective on Cisco Systems from $62.00 to $68.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Rosenblatt Securities upgraded Cisco Systems from a "neutral" rating to a "buy" rating and upped their price objective for the company from $66.00 to $80.00 in a research report on Thursday, February 13th. Citigroup upped their price objective on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. UBS Group upped their price objective on Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Finally, StockNews.com upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and an average price target of $66.53.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 736,120 shares of the company's stock, valued at $47,413,489.20. This trade represents a 4.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 4,881 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total value of $291,542.13. Following the sale, the senior vice president now owns 51,931 shares in the company, valued at $3,101,838.63. The trade was a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,921 shares of company stock valued at $4,298,667. Insiders own 0.01% of the company's stock.

Cisco Systems Company 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.