FAS Wealth Partners Inc. Sells 279 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

FAS Wealth Partners Inc. cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,778 shares of the network equipment provider’s stock after selling 279 shares during the period. FAS Wealth Partners Inc.’s holdings in Cisco Systems were worth $934,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. LGT Financial Advisors LLC grew its holdings in Cisco Systems by 15,900.0% during the 4th quarter. LGT Financial Advisors LLC now owns 1,600 shares of the network equipment provider’s stock worth $95,000 after acquiring an additional 1,590 shares during the period. Sulzberger Capital Advisors Inc. acquired a new stake in Cisco Systems during the fourth quarter worth approximately $679,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in Cisco Systems by 187.9% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider’s stock valued at $442,749,000 after buying an additional 4,880,747 shares during the period. Freestone Grove Partners LP bought a new position in shares of Cisco Systems during the 4th quarter worth approximately $63,491,000. Finally, Parvin Asset Management LLC acquired a new stake in shares of Cisco Systems during the 4th quarter worth approximately $1,256,000. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CSCO. UBS Group increased their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Wells Fargo & Company reissued an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Citigroup decreased their target price on Cisco Systems from $73.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group increased their price target on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Rosenblatt Securities decreased their price objective on Cisco Systems from $80.00 to $63.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $65.05.

Cisco Systems Stock Up 0.7 %

Shares of NASDAQ:CSCO opened at $58.12 on Friday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The company has a market capitalization of $231.22 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 4.16 and a beta of 0.86. The business has a fifty day moving average price of $59.30 and a two-hundred day moving average price of $59.29. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

Cisco Systems (NASDAQ:CSCO) last posted 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 net margin of 16.96% and a return on equity of 26.08%. Analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd were issued a $0.41 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $1.64 annualized dividend and a yield of 2.82%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is 71.62%.

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

Insider Activity

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the transaction, the executive vice president now owns 191,184 shares of the company’s stock, valued at $11,604,868.80. The trade was a 1.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles Robbins sold 31,983 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the sale, the chief executive officer now owns 736,120 shares in the company, valued at approximately $47,413,489.20. This represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,547 shares of company stock valued at $4,275,553 over the last quarter. Company insiders own 0.01% of the company’s stock.

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.