Bradley Foster & Sargent Inc. CT Sells 4,929 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Bradley Foster & Sargent Inc. CT lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 577,511 shares of the network equipment provider’s stock after selling 4,929 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Cisco Systems were worth $34,189,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Swedbank AB grew its stake in Cisco Systems by 0.6% during the third quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock worth $480,555,000 after purchasing an additional 52,711 shares during the period. Foundations Investment Advisors LLC increased its stake in shares of Cisco Systems by 6.2% in the 3rd quarter. Foundations Investment Advisors LLC now owns 25,699 shares of the network equipment provider’s stock valued at $1,368,000 after acquiring an additional 1,505 shares in the last quarter. Stanley Laman Group Ltd. lifted its position in shares of Cisco Systems by 3.4% during the 3rd quarter. Stanley Laman Group Ltd. now owns 9,695 shares of the network equipment provider’s stock valued at $516,000 after acquiring an additional 323 shares during the period. Elevated Capital Advisors LLC bought a new position in Cisco Systems during the third quarter worth $387,000. Finally, Monte Financial Group LLC grew its holdings in Cisco Systems by 9.2% in the third quarter. Monte Financial Group LLC now owns 115,135 shares of the network equipment provider’s stock worth $6,127,000 after purchasing an additional 9,705 shares during the period. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $64.67 on Friday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The business has a fifty day simple moving average of $60.55 and a two-hundred day simple moving average of $56.01. The company has a market capitalization of $257.28 billion, a P/E ratio of 28.24, a P/E/G ratio of 4.17 and a beta of 0.84.

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

Cisco Systems Increases Dividend

The firm also recently declared 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 represents a $1.64 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Thursday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is 69.87%.

Cisco Systems declared that its Board of Directors has approved a share repurchase 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 stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Citigroup upped their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Wells Fargo & Company upped their target price on Cisco Systems from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 13th. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Barclays boosted their price target on shares of Cisco Systems from $56.00 to $61.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.53.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 3,042 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the sale, the executive vice president now owns 207,798 shares in the company, valued at $12,299,563.62. The trade was a 1.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Charles Robbins sold 31,983 shares of the stock in a transaction that occurred 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 $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,921 shares of company stock worth $4,298,667. 0.01% of the stock is currently owned by 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.