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

Buckley Wealth Management LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 147,237 shares of the network equipment provider’s stock after selling 3,805 shares during the quarter. Cisco Systems makes up approximately 2.7% of Buckley Wealth Management LLC’s portfolio, making the stock its 13th biggest holding. Buckley Wealth Management LLC’s holdings in Cisco Systems were worth $8,716,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CSCO. FPC Investment Advisory Inc. acquired a new position in shares of Cisco Systems in the 4th quarter worth approximately $26,000. Highline Wealth Partners LLC grew its position in shares of Cisco Systems by 76.7% in 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 acquired a new position in shares of Cisco Systems in the 4th quarter worth approximately $36,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Cisco Systems in the 3rd quarter worth approximately $40,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Cisco Systems in the 4th quarter worth approximately $49,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on CSCO. JPMorgan Chase & Co. lifted their target price on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. StockNews.com lowered Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 5th. BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective for the company in a research report on Tuesday, January 28th. Morgan Stanley boosted their price objective on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $66.00 to $80.00 in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.63.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 31,983 shares of the business’s 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 sale, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at $47,413,489.20. The trade was 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 available at this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares in the company, valued at $11,604,868.80. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,547 shares of company stock valued at $4,275,553 over the last three months. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 1.4 %

CSCO opened at $60.50 on Friday. Cisco Systems, Inc. has a one year low of $44.50 and a one year 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 stock’s fifty day moving average is $61.79 and its 200-day moving average is $57.70. The company 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.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 EPS 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 predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently announced 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. 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. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.71%. Cisco Systems’s payout ratio is 71.62%.

Cisco Systems declared that its board has authorized a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.