Envestnet Portfolio Solutions Inc. Sells 7,420 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Envestnet Portfolio Solutions Inc. cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 530,922 shares of the network equipment provider’s stock after selling 7,420 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Cisco Systems were worth $31,431,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CSCO. Pollock Investment Advisors LLC acquired a new position in Cisco Systems in the fourth quarter valued at about $205,000. one8zero8 LLC bought a new position in shares of Cisco Systems in the fourth quarter valued at approximately $1,898,000. Choate Investment Advisors boosted its holdings in shares of Cisco Systems by 5.0% in the 4th quarter. Choate Investment Advisors now owns 123,590 shares of the network equipment provider’s stock worth $7,317,000 after acquiring an additional 5,901 shares in the last quarter. Natixis Advisors LLC grew its position in Cisco Systems by 4.7% during the 4th quarter. Natixis Advisors LLC now owns 2,777,851 shares of the network equipment provider’s stock worth $164,449,000 after acquiring an additional 124,988 shares during the last quarter. Finally, Frank Rimerman Advisors LLC increased its holdings in Cisco Systems by 6.4% during the 4th quarter. Frank Rimerman Advisors LLC now owns 77,462 shares of the network equipment provider’s stock valued at $4,586,000 after purchasing an additional 4,684 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO opened at $60.50 on Friday. 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 firm has a market capitalization of $240.69 billion, a PE ratio of 26.42, a P/E/G ratio of 4.16 and a beta of 0.79. The stock has a 50 day simple moving average of $61.79 and a 200 day simple moving average of $57.75. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last released 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%. Sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio is currently 71.62%.

Cisco Systems declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CSCO shares. Wells Fargo & Company reissued an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Rosenblatt Securities raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $80.00 in a research note on Thursday, February 13th. The Goldman Sachs Group upped their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, StockNews.com cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 5th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus price target of $66.63.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction on Wednesday, March 12th. The shares were 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 in the company, valued at approximately $11,604,868.80. This represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the transaction, the senior vice president now directly owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. This trade represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is owned by corporate insiders.

Cisco Systems 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.