Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 51.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,939 shares of the network equipment provider’s stock after selling 13,528 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Cisco Systems were worth $766,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CSCO. Highline Wealth Partners LLC grew its holdings in shares of Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in Cisco Systems in the third quarter worth approximately $40,000. Decker Retirement Planning Inc. purchased a new position in Cisco Systems in the fourth quarter worth approximately $49,000. Capital Performance Advisors LLP purchased a new position in Cisco Systems in the third quarter worth approximately $51,000. Finally, FSA Wealth Management LLC purchased a new position in Cisco Systems in the third quarter worth approximately $56,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $64.87 on Friday. The firm’s fifty day simple moving average is $60.07 and its 200-day simple moving average is $55.54. The stock has a market capitalization of $258.36 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 4.63 and a beta of 0.84. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. As a group, equities analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems declared that its board has authorized a share buyback program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be paid a $0.41 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.53%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s payout ratio is currently 68.67%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, Director Kristina M. Johnson sold 7,500 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $59.87, for a total value of $449,025.00. Following the transaction, the director now directly owns 65,915 shares of the company’s stock, valued at approximately $3,946,331.05. The trade was a 10.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the transaction, the executive vice president now directly owns 213,834 shares in the company, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,239 shares of company stock valued at $2,166,612. 0.01% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. StockNews.com upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday. Wells Fargo & Company lifted their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Thursday. Morgan Stanley lifted their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.53.

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.