Wrapmanager Inc. Sells 2,527 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Wrapmanager Inc. decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,341 shares of the network equipment provider’s stock after selling 2,527 shares during the period. Wrapmanager Inc.’s holdings in Cisco Systems were worth $1,678,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mengis Capital Management Inc. increased its stake in Cisco Systems by 5.2% in the 4th quarter. Mengis Capital Management Inc. now owns 6,305 shares of the network equipment provider’s stock worth $373,000 after acquiring an additional 314 shares during the last quarter. CWS Financial Advisors LLC grew its holdings in shares of Cisco Systems by 14.9% in the fourth quarter. CWS Financial Advisors LLC now owns 12,227 shares of the network equipment provider’s stock valued at $724,000 after purchasing an additional 1,587 shares in the last quarter. Pine Valley Investments Ltd Liability Co increased its position in Cisco Systems by 20.2% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 39,675 shares of the network equipment provider’s stock worth $2,349,000 after purchasing an additional 6,671 shares during the last quarter. Addison Advisors LLC raised its stake in Cisco Systems by 2.4% during the fourth quarter. Addison Advisors LLC now owns 17,401 shares of the network equipment provider’s stock valued at $1,030,000 after purchasing an additional 400 shares in the last quarter. Finally, BankPlus Trust Department bought a new position in Cisco Systems during the fourth quarter valued at $2,847,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Down 1.2 %

Shares of CSCO stock opened at $63.24 on Tuesday. The stock’s fifty day moving average price is $60.75 and its 200 day moving average price is $56.42. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The company has a market cap of $251.59 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84. 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 (NASDAQ:CSCO) last released its 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 return on equity of 26.08% and a net margin of 16.96%. On average, research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its Board of Directors has authorized a stock buyback 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 reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.59%. 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 payout ratio is presently 69.87%.

Insider Activity

In other Cisco Systems news, CFO Richard Scott Herren sold 19,929 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $1,283,626.89. Following the sale, the chief financial officer now owns 335,605 shares in the company, valued at approximately $21,616,318.05. This represents a 5.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 31,983 shares of Cisco Systems 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 directly owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,729 shares of company stock valued at $5,058,748. Company insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several recent research reports. JPMorgan Chase & Co. upped their target price on shares of Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price on the stock in a research report on Tuesday, January 28th. Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $66.00 to $80.00 in a research report on Thursday, February 13th. Finally, Wells Fargo & Company boosted their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the company an “equal weight” rating in a research report 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 given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.53.

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.