Axxcess Wealth Management LLC Sells 2,640 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Axxcess Wealth Management LLC reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 116,909 shares of the network equipment provider’s stock after selling 2,640 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Cisco Systems were worth $6,921,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new position in Cisco Systems in the 4th quarter worth $26,000. Campbell Capital Management Inc. purchased a new stake in shares of Cisco Systems in the 4th quarter worth about $31,000. Highline Wealth Partners LLC grew its position in shares of Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after buying an additional 260 shares during the period. Synergy Investment Management LLC purchased a new stake in shares of Cisco Systems in the 4th quarter worth about $36,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in Cisco Systems during the 3rd quarter valued at about $40,000. 73.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Rosenblatt Securities raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the company from $66.00 to $80.00 in a research report on Thursday, February 13th. The Goldman Sachs Group increased their price objective on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. UBS Group raised their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research note on Tuesday, January 28th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $66.63.

Insider Buying and Selling

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction on Friday, February 14th. The shares were 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 in the company, valued at $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Richard Scott Herren sold 19,929 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the transaction, the chief financial officer now owns 335,605 shares in the company, valued at $21,616,318.05. This trade represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,547 shares of company stock worth $4,275,553. Insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

CSCO stock opened at $60.89 on Tuesday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The company’s fifty day moving average price is $61.83 and its 200-day moving average price is $57.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The company has a market capitalization of $242.24 billion, a PE ratio of 26.59, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. On average, equities analysts anticipate 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 given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.69%. The ex-dividend date is Thursday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is currently 71.62%.

Cisco Systems announced that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Cisco Systems 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.