Cassady Schiller Wealth Management LLC Trims Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Cassady Schiller Wealth Management LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 40.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,620 shares of the network equipment provider’s stock after selling 1,784 shares during the quarter. Cassady Schiller Wealth Management LLC’s holdings in Cisco Systems were worth $155,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Mainstream Capital Management LLC bought a new stake in Cisco Systems during the fourth quarter valued at $132,000. Morse Asset Management Inc bought a new stake in Cisco Systems during the third quarter valued at $798,000. HighVista Strategies LLC bought a new stake in Cisco Systems during the third quarter valued at $1,698,000. GAMMA Investing LLC boosted its stake in Cisco Systems by 13.1% during the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock valued at $5,527,000 after buying an additional 10,813 shares during the period. Finally, Oddo BHF Asset Management Sas bought a new stake in Cisco Systems during the third quarter valued at $502,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Trading Up 1.4 %

CSCO opened at $60.50 on Monday. The business has a 50 day simple moving average of $61.79 and a two-hundred day simple moving average of $57.80. The firm has a market capitalization of $240.69 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 4.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a one year low of $44.50 and a one year 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 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%. Analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems announced that its Board of Directors has approved 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 repurchase up to 6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Cisco Systems Increases Dividend

The company 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 $0.41 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.71%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is currently 71.62%.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total transaction of $46,474.38. Following the sale, the senior vice president now directly owns 44,155 shares in the company, valued at approximately $2,693,013.45. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 11,808 shares of the 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 sale, the executive vice president now owns 200,191 shares in the company, valued at approximately $12,886,294.67. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,547 shares of company stock valued at $4,275,553 in the last 90 days. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. JPMorgan Chase & Co. lifted their price target on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Citigroup reaffirmed an “overweight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group lifted their price target on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.