Fortitude Advisory Group L.L.C. Has $844,000 Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Fortitude Advisory Group L.L.C. trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,250 shares of the network equipment provider’s stock after selling 1,009 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in Cisco Systems were worth $844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. IRON Financial LLC grew its position in Cisco Systems by 2.6% in the fourth quarter. IRON Financial LLC now owns 16,495 shares of the network equipment provider’s stock worth $977,000 after acquiring an additional 418 shares in the last quarter. Cascade Investment Advisors Inc. lifted its stake in shares of Cisco Systems by 0.9% in the 4th quarter. Cascade Investment Advisors Inc. now owns 40,608 shares of the network equipment provider’s stock valued at $2,404,000 after purchasing an additional 360 shares during the last quarter. BankPlus Wealth Management LLC bought a new stake in Cisco Systems in the fourth quarter worth $446,000. Northwest Financial Advisors increased its position in Cisco Systems by 10.5% during the fourth quarter. Northwest Financial Advisors now owns 4,313 shares of the network equipment provider’s stock worth $255,000 after buying an additional 409 shares during the last quarter. Finally, Nilsine Partners LLC raised its holdings in Cisco Systems by 1.8% during the fourth quarter. Nilsine Partners LLC now owns 30,124 shares of the network equipment provider’s stock valued at $1,783,000 after buying an additional 546 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the sale, the senior vice president now directly owns 50,767 shares in the company, valued at $2,979,515.23. This represents a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. The trade was a 17.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $55.00 to $66.00 in a report on Monday, November 11th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Bank of America upped their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. UBS Group lifted their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Finally, Wells Fargo & Company upped their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.50.

Cisco Systems Stock Down 5.0 %

NASDAQ CSCO opened at $59.09 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $235.35 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 4.59 and a beta of 0.84. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $62.31. The stock’s 50 day moving average is $59.22 and its two-hundred day moving average is $54.14.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 earnings per share. Equities analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.71%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

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.