Donaldson Capital Management LLC Sells 6,531 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Donaldson Capital Management LLC trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 81,547 shares of the network equipment provider’s stock after selling 6,531 shares during the quarter. Donaldson Capital Management LLC’s holdings in Cisco Systems were worth $4,828,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. FPC Investment Advisory Inc. bought a new position in shares of Cisco Systems during the 4th quarter worth approximately $26,000. Highline Wealth Partners LLC grew its stake in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after acquiring an additional 260 shares in the last quarter. Synergy Investment Management LLC bought a new position in shares of Cisco Systems during the 4th quarter worth approximately $36,000. RPg Family Wealth Advisory LLC bought a new position in shares of Cisco Systems during the 3rd quarter worth approximately $40,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Cisco Systems during the 4th quarter worth approximately $49,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Down 2.9 %

CSCO opened at $62.06 on Tuesday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week 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 company has a market capitalization of $246.89 billion, a P/E ratio of 27.10, a P/E/G ratio of 4.16 and a beta of 0.79. The stock has a fifty day moving average of $61.69 and a 200-day moving average of $57.53.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. On average, equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems declared that its Board of Directors has approved a share 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 buy up to 6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.64%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is currently 71.62%.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 31,983 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value 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 trade represents a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 11,808 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $64.37, for a total value of $760,080.96. Following the completion of the transaction, the executive vice president now owns 200,191 shares in the company, valued at $12,886,294.67. The trade was a 5.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,348 shares of company stock valued at $4,318,181. 0.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Cisco Systems in a research note on Thursday. Piper Sandler reissued a “neutral” rating on shares of Cisco Systems in a report on Thursday. UBS Group increased their price objective on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the company from $66.00 to $73.00 in a report on Monday, January 6th. Finally, Morgan Stanley increased their price objective on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average price target 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.