Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Hoertkorn Richard Charles

Hoertkorn Richard Charles lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,337 shares of the network equipment provider’s stock after selling 1,600 shares during the quarter. Cisco Systems comprises about 1.5% of Hoertkorn Richard Charles’ holdings, making the stock its 19th biggest holding. Hoertkorn Richard Charles’ holdings in Cisco Systems were worth $3,631,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FPC Investment Advisory Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $30,000. Campbell Capital Management Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter valued at $31,000. Highline Wealth Partners LLC boosted its stake in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares during the last quarter. Finally, Synergy Investment Management LLC purchased a new stake in Cisco Systems in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. StockNews.com lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 5th. UBS Group increased their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. upped 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. Finally, DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.63.

Insider Buying and Selling

In other Cisco Systems news, CFO Richard Scott Herren sold 19,929 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the sale, the chief financial officer now directly owns 335,605 shares in the company, valued at $21,616,318.05. This represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company’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 owns 191,184 shares of the company’s stock, valued at $11,604,868.80. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,547 shares of company stock worth $4,275,553. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO stock opened at $61.40 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The firm’s 50 day moving average price is $62.10 and its two-hundred day moving average price is $58.38. The stock has a market cap of $244.27 billion, a PE ratio of 26.81, a PEG ratio of 4.16 and a beta of 0.79.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. As a group, analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a $0.41 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.67%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is 71.62%.

Cisco Systems declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors 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.