Cisco Systems, Inc. (NASDAQ:CSCO) Holdings Cut by Wimmer Associates 1 LLC

Wimmer Associates 1 LLC decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,997 shares of the network equipment provider’s stock after selling 255 shares during the quarter. Cisco Systems makes up about 1.4% of Wimmer Associates 1 LLC’s holdings, making the stock its 16th biggest position. Wimmer Associates 1 LLC’s holdings in Cisco Systems were worth $2,841,000 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. purchased a new stake in Cisco Systems in the 4th quarter worth approximately $26,000. Navigoe LLC acquired a new position in shares of Cisco Systems during the 4th quarter worth $26,000. Runnymede Capital Advisors Inc. acquired a new position in shares of Cisco Systems during the 4th quarter worth $30,000. Campbell Capital Management Inc. acquired a new position in shares of Cisco Systems during the 4th quarter worth $31,000. Finally, Synergy Investment Management LLC acquired a new position in shares of Cisco Systems during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Down 1.0%

Shares of NASDAQ:CSCO opened at $63.62 on Monday. The stock has a market cap of $253.10 billion, a price-to-earnings ratio of 27.78, a P/E/G ratio of 4.16 and a beta of 0.89. The company has a 50 day moving average of $58.75 and a 200-day moving average of $59.72. 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, Inc. has a one year low of $44.50 and a one year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.88 earnings per share. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is currently 71.62%.

Cisco Systems announced that its Board of Directors has approved a share buyback program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently commented on CSCO shares. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a research note on Tuesday, January 28th. Morgan Stanley raised their target price on shares of Cisco Systems from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday. Evercore ISI raised their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday. StockNews.com upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, JPMorgan Chase & Co. raised their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 11,808 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $64.37, for a total transaction of $760,080.96. Following the completion of the sale, the executive vice president now directly owns 200,191 shares in the company, valued at approximately $12,886,294.67. This represents a 5.57% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,635 shares of company stock worth $931,901. 0.01% of the stock is currently owned by company insiders.

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.