Cisco Systems, Inc. (NASDAQ:CSCO) Stake Decreased by Norden Group LLC

Norden Group LLC lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,260 shares of the network equipment provider’s stock after selling 1,613 shares during the period. Norden Group LLC’s holdings in Cisco Systems were worth $5,166,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. FPC Investment Advisory Inc. bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $26,000. Highline Wealth Partners LLC raised its holdings in shares of Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after buying an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of Cisco Systems during the third quarter valued at approximately $40,000. Decker Retirement Planning Inc. bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $49,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Cisco Systems during the third quarter valued at approximately $51,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 0.5 %

NASDAQ CSCO opened at $64.14 on Friday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. 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 stock has a market cap of $255.15 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 4.16 and a beta of 0.84. The firm’s 50 day moving average price is $61.23 and its two-hundred day moving average price is $56.87.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data 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%. Equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems announced that its board has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are 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 given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.56%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s payout ratio is presently 71.62%.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the transaction, the senior vice president now directly owns 50,767 shares in the company, valued at $2,979,515.23. The trade was a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 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. In the last three months, insiders have sold 74,848 shares of company stock worth $4,767,206. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CSCO shares. Barclays boosted their target price on Cisco Systems from $56.00 to $61.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. UBS Group boosted their target price on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Bank of America boosted their target price on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Wells Fargo & Company boosted their target price on Cisco Systems from $60.00 to $72.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.63.

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.