DLK Investment Management LLC Reduces Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

DLK Investment Management LLC trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% in the 4th quarter, Holdings Channel reports. The firm owned 66,063 shares of the network equipment provider’s stock after selling 1,685 shares during the period. Cisco Systems accounts for approximately 1.6% of DLK Investment Management LLC’s holdings, making the stock its 27th biggest position. DLK Investment Management LLC’s holdings in Cisco Systems were worth $3,911,000 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. SeaCrest Wealth Management LLC increased its stake in Cisco Systems by 0.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 31,744 shares of the network equipment provider’s stock valued at $1,879,000 after purchasing an additional 178 shares in the last quarter. Aviso Wealth Management grew its holdings in shares of Cisco Systems by 2.4% during the third quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock valued at $405,000 after buying an additional 181 shares during the last quarter. Waypoint Capital Advisors LLC raised its stake in Cisco Systems by 2.9% in the 3rd quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock worth $346,000 after acquiring an additional 182 shares during the last quarter. Andina Capital Management LLC lifted its position in Cisco Systems by 3.6% during the 3rd quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock worth $279,000 after acquiring an additional 182 shares during the period. Finally, Wealth Dimensions Group Ltd. grew its stake in Cisco Systems by 1.6% during the 3rd quarter. Wealth Dimensions Group Ltd. now owns 11,372 shares of the network equipment provider’s stock valued at $605,000 after purchasing an additional 182 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 3,042 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total transaction of $180,055.98. Following the transaction, the executive vice president now owns 207,798 shares of the company’s stock, valued at approximately $12,299,563.62. The trade was a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 4,881 shares of Cisco Systems stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total value of $291,542.13. Following the transaction, the senior vice president now owns 51,931 shares in the company, valued at approximately $3,101,838.63. This represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of research reports. Citigroup lifted their target price on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Friday. Barclays lifted their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Wells Fargo & Company increased their price objective on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Bank of America boosted their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and an average price target of $61.50.

Cisco Systems Stock Up 0.7 %

CSCO opened at $60.23 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $60.95. The company has a market cap of $239.88 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The company has a 50-day moving average price of $58.91 and a 200 day moving average price of $53.57.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter last year, the business posted $0.98 earnings per share. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. Sell-side analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

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.