Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Horan Capital Advisors LLC.

Horan Capital Advisors LLC. lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,494 shares of the network equipment provider’s stock after selling 400 shares during the quarter. Horan Capital Advisors LLC.’s holdings in Cisco Systems were worth $444,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Morse Asset Management Inc acquired a new position in shares of Cisco Systems during the third quarter valued at approximately $798,000. HighVista Strategies LLC acquired a new position in Cisco Systems in the third quarter worth approximately $1,698,000. GAMMA Investing LLC grew its position in Cisco Systems by 13.1% in the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after buying an additional 10,813 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new position in Cisco Systems in the third quarter worth approximately $502,000. Finally, Quintet Private Bank Europe S.A. grew its position in Cisco Systems by 17.0% in the third quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock worth $33,830,000 after buying an additional 92,179 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 11,808 shares of Cisco Systems stock in a transaction on Friday, February 21st. The shares were sold at an average price of $64.37, for a total value of $760,080.96. Following the transaction, the executive vice president now owns 200,191 shares in the company, valued at $12,886,294.67. This trade represents a 5.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the transaction, the chief executive officer now owns 736,120 shares in the company, valued at $47,413,489.20. This trade represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,848 shares of company stock valued at $4,767,206. Insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 1.0 %

Shares of NASDAQ:CSCO opened at $63.48 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The firm has a fifty day moving average of $61.32 and a two-hundred day moving average of $57.06. The firm has a market capitalization of $252.54 billion, a P/E ratio of 27.72, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) 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%. On average, equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is presently 71.62%.

Wall Street Analyst Weigh In

CSCO has been the topic of several recent research reports. Bank of America lifted their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Barclays lifted their price target on shares of Cisco Systems from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 13th. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Morgan Stanley lifted their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $66.63.

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.