NewEdge Wealth LLC Sells 13,820 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

NewEdge Wealth LLC reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 118,886 shares of the network equipment provider’s stock after selling 13,820 shares during the period. NewEdge Wealth LLC’s holdings in Cisco Systems were worth $7,038,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Morse Asset Management Inc purchased a new stake in shares of Cisco Systems during the third quarter worth about $798,000. HighVista Strategies LLC purchased a new stake in shares of Cisco Systems during the third quarter worth about $1,698,000. GAMMA Investing LLC grew its stake in shares of Cisco Systems by 13.1% during the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after acquiring an additional 10,813 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new stake in shares of Cisco Systems during the third quarter worth about $502,000. Finally, Quintet Private Bank Europe S.A. grew its stake in shares of Cisco Systems by 17.0% during 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 acquiring an additional 92,179 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 11,808 shares of Cisco Systems stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $64.37, for a total value of $760,080.96. Following the transaction, the executive vice president now directly owns 200,191 shares in the company, valued at approximately $12,886,294.67. This trade represents a 5.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of Cisco Systems stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the transaction, the senior vice president now owns 50,767 shares in the company, valued at $2,979,515.23. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,848 shares of company stock valued at $4,767,206 over the last quarter. Company insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CSCO shares. StockNews.com lowered Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Bank of America boosted their price target on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. The Goldman Sachs Group upped their target price on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. DZ Bank upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Finally, BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Tuesday, January 28th. Seven investment 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $66.63.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $63.81 on Friday. The business has a 50-day moving average of $61.12 and a 200 day moving average of $56.66. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The stock has a market capitalization of $253.85 billion, a price-to-earnings ratio of 27.86, 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 issued 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, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is 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 given a dividend of $0.41 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 annualized dividend and a yield of 2.57%. Cisco Systems’s payout ratio is 71.62%.

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.