Vaughan David Investments LLC IL cut its position in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 938,342 shares of the network equipment provider's stock after selling 710 shares during the period. Cisco Systems accounts for about 1.3% of Vaughan David Investments LLC IL's investment portfolio, making the stock its 18th biggest position. Vaughan David Investments LLC IL's holdings in Cisco Systems were worth $44,703,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CSCO. My Legacy Advisors LLC increased its position in shares of Cisco Systems by 5.9% during the fourth quarter. My Legacy Advisors LLC now owns 16,780 shares of the network equipment provider's stock worth $816,000 after acquiring an additional 938 shares in the last quarter. Regatta Capital Group LLC boosted its holdings in Cisco Systems by 41.8% during the fourth quarter. Regatta Capital Group LLC now owns 6,892 shares of the network equipment provider's stock worth $328,000 after purchasing an additional 2,030 shares during the last quarter. Fort Pitt Capital Group LLC boosted its holdings in Cisco Systems by 13.1% during the fourth quarter. Fort Pitt Capital Group LLC now owns 56,873 shares of the network equipment provider's stock worth $2,709,000 after purchasing an additional 6,580 shares during the last quarter. Laurel Wealth Advisors LLC boosted its holdings in Cisco Systems by 8.8% during the fourth quarter. Laurel Wealth Advisors LLC now owns 104,437 shares of the network equipment provider's stock worth $4,975,000 after purchasing an additional 8,423 shares during the last quarter. Finally, Richard W. Paul & Associates LLC acquired a new position in Cisco Systems during the fourth quarter worth $934,000. 71.10% of the stock is currently owned by institutional investors and hedge funds.
Get Cisco Systems alerts:Insider Buying and Selling at Cisco Systems
In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 23,701 shares of the company's stock in a transaction dated Friday, February 17th. The shares were 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 approximately $9,409,017.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Charles Robbins sold 20,117 shares of the stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $49.08, for a total value of $987,342.36. Following the transaction, the chief executive officer now owns 798,970 shares in the company, valued at approximately $39,213,447.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 23,701 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 184,853 shares in the company, valued at approximately $9,409,017.70. The disclosure for this sale can be found here. In 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 0.3 %
Shares of NASDAQ CSCO opened at $47.13 on Monday. Cisco Systems, Inc. has a 12 month low of $38.60 and a 12 month high of $52.56. The company has a current ratio of 1.41, a quick ratio of 1.30 and a debt-to-equity ratio of 0.18. The firm has a fifty day simple moving average of $49.57 and a two-hundred day simple moving average of $47.90. The firm has a market capitalization of $193.04 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 2.15 and a beta of 1.00.
Cisco Systems (NASDAQ:CSCO – Get Rating) last announced its quarterly earnings data on Wednesday, February 15th. The network equipment provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.76 by $0.12. Cisco Systems had a net margin of 21.26% and a return on equity of 31.19%. The company had revenue of $13.59 billion for the quarter, compared to the consensus estimate of $13.41 billion. During the same period in the prior year, the firm posted $0.77 EPS. Cisco Systems's revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts expect that Cisco Systems, Inc. will post 3.33 earnings per share for the current year.
Cisco Systems Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 26th. Shareholders of record on Wednesday, April 5th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, April 4th. This represents a $1.56 annualized dividend and a yield of 3.31%. This is a boost from Cisco Systems's previous quarterly dividend of $0.38. Cisco Systems's dividend payout ratio is currently 57.14%.
Wall Street Analyst Weigh In
CSCO has been the subject of several recent research reports. Tigress Financial restated a "buy" rating and set a $73.00 target price on shares of Cisco Systems in a report on Friday, March 17th. Credit Suisse Group increased their price target on shares of Cisco Systems from $67.00 to $69.00 and gave the company an "outperform" rating in a research note on Thursday, February 16th. Cowen increased their price target on shares of Cisco Systems from $61.00 to $64.00 and gave the company an "outperform" rating in a research note on Thursday, February 16th. StockNews.com cut shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Thursday. Finally, Raymond James increased their price target on shares of Cisco Systems from $59.00 to $63.00 and gave the company an "outperform" rating in a research note on Thursday, February 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and a consensus price target 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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