Global Wealth Management Investment Advisory Inc. Sells 2,877 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Global Wealth Management Investment Advisory Inc. cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,709 shares of the network equipment provider’s stock after selling 2,877 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Cisco Systems were worth $3,421,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Cisco Systems by 3.2% in the third quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock valued at $3,069,815,000 after purchasing an additional 1,790,717 shares in the last quarter. Northern Trust Corp increased its position in shares of Cisco Systems by 3.8% during the third quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock worth $2,717,537,000 after purchasing an additional 1,847,682 shares in the last quarter. Invesco Ltd. boosted its holdings in Cisco Systems by 3.7% in the 3rd quarter. Invesco Ltd. now owns 33,536,256 shares of the network equipment provider’s stock valued at $1,802,909,000 after purchasing an additional 1,181,327 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Cisco Systems by 25.0% in the 4th quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock valued at $947,262,000 after purchasing an additional 3,753,165 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Cisco Systems by 3.7% during the 3rd quarter. AQR Capital Management LLC now owns 11,376,937 shares of the network equipment provider’s stock worth $611,624,000 after acquiring an additional 405,699 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on CSCO. Wells Fargo & Company assumed coverage on Cisco Systems in a report on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price target for the company. Melius Research restated a “hold” rating and set a $55.00 price objective on shares of Cisco Systems in a research note on Monday, January 8th. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Tuesday, April 9th. Finally, Citigroup assumed coverage on Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $55.53.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded up $0.25 during midday trading on Wednesday, hitting $47.23. The company had a trading volume of 4,980,604 shares, compared to its average volume of 19,075,904. The company has a fifty day simple moving average of $48.90 and a 200 day simple moving average of $49.92. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. The stock has a market cap of $191.24 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 2.76 and a beta of 0.87. Cisco Systems, Inc. has a 12-month low of $45.56 and a 12-month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The business had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. During the same period last year, the firm posted $0.76 earnings per share. The company’s revenue was down 5.9% compared to the same quarter last year. As a group, analysts predict that Cisco Systems, Inc. will post 3.13 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.39%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s payout ratio is currently 48.63%.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares in the company, valued at $9,579,865.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the transaction, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The disclosure for this sale can be found here. Insiders have sold 19,441 shares of company stock valued at $972,080 over the last quarter. 0.02% of the stock is owned by insiders.

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.