Modera Wealth Management LLC reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 2.7% during the fourth quarter, Holdings Channel reports. The firm owned 17,222 shares of the network equipment provider's stock after selling 470 shares during the quarter. Modera Wealth Management LLC's holdings in Cisco Systems were worth $820,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Retirement Financial Solutions LLC bought a new position in Cisco Systems during the 4th quarter valued at about $25,000. My Personal CFO LLC purchased a new stake in Cisco Systems during the 4th quarter valued at approximately $27,000. EWG Elevate Inc. purchased a new stake in Cisco Systems during the 4th quarter valued at approximately $36,000. VitalStone Financial LLC purchased a new stake in Cisco Systems during the 4th quarter valued at approximately $41,000. Finally, Red Tortoise LLC purchased a new stake in Cisco Systems during the 4th quarter valued at approximately $47,000. 71.10% of the stock is owned by hedge funds and other institutional investors.
Get Cisco Systems alerts:Insider Activity
In other news, EVP Deborah L. Stahlkopf sold 23,701 shares of the firm's stock in a transaction on Friday, February 17th. The stock was sold at an average price of $50.90, for a total transaction of $1,206,380.90. Following the transaction, the executive vice president now owns 184,853 shares in the company, valued at $9,409,017.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 23,701 shares of Cisco Systems stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $50.90, for a total value of $1,206,380.90. Following the transaction, the executive vice president now owns 184,853 shares in the company, valued at $9,409,017.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 20,117 shares of Cisco Systems stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $49.08, for a total value of $987,342.36. Following the completion of the transaction, the chief executive officer now owns 798,970 shares in the company, valued at approximately $39,213,447.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,568 shares of company stock worth $2,376,624. Company insiders own 0.02% of the company's stock.
Cisco Systems Stock Down 2.1 %
NASDAQ:CSCO opened at $46.36 on Wednesday. Cisco Systems, Inc. has a twelve month low of $38.60 and a twelve month high of $52.56. The company has a market cap of $189.88 billion, a price-to-earnings ratio of 16.98, a price-to-earnings-growth ratio of 2.15 and a beta of 1.00. The stock has a fifty day simple moving average of $49.43 and a 200-day simple moving average of $47.99. The company has a current ratio of 1.41, a quick ratio of 1.30 and a debt-to-equity ratio of 0.18.
Cisco Systems (NASDAQ:CSCO – Get Rating) last released its earnings results on Wednesday, February 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.12. The business had revenue of $13.59 billion during the quarter, compared to the consensus estimate of $13.41 billion. Cisco Systems had a return on equity of 31.19% and a net margin of 21.26%. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $0.77 earnings per share. Analysts anticipate that Cisco Systems, Inc. will post 3.33 EPS for the current year.
Cisco Systems Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 26th. Stockholders of record on Wednesday, April 5th were paid a dividend of $0.39 per share. The ex-dividend date was Tuesday, April 4th. This represents a $1.56 annualized dividend and a dividend yield of 3.36%. This is a positive change from Cisco Systems's previous quarterly dividend of $0.38. Cisco Systems's dividend payout ratio (DPR) is currently 57.14%.
Wall Street Analysts Forecast Growth
CSCO has been the subject of a number of research analyst reports. Raymond James increased their price objective on shares of Cisco Systems from $59.00 to $63.00 and gave the company an "outperform" rating in a report on Thursday, February 16th. Cowen raised their target price on shares of Cisco Systems from $61.00 to $64.00 and gave the company an "outperform" rating in a report on Thursday, February 16th. Tigress Financial reissued a "buy" rating and issued a $73.00 target price on shares of Cisco Systems in a report on Friday, March 17th. JPMorgan Chase & Co. raised their target price on shares of Cisco Systems from $54.00 to $55.00 and gave the company a "neutral" rating in a report on Thursday, February 16th. Finally, Morgan Stanley raised their target price on shares of Cisco Systems from $52.00 to $55.00 and gave the company an "equal weight" rating in a report on Thursday, February 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $56.38.
About Cisco Systems
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Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its products include the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.
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