Perritt Capital Management Inc Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Perritt Capital Management Inc decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 13,959 shares of the network equipment provider’s stock after selling 478 shares during the quarter. Perritt Capital Management Inc’s holdings in Cisco Systems were worth $826,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems during the 4th quarter worth approximately $26,000. Runnymede Capital Advisors Inc. acquired a new stake in Cisco Systems during the fourth quarter valued at $30,000. Campbell Capital Management Inc. acquired a new stake in Cisco Systems during the fourth quarter valued at $31,000. Highline Wealth Partners LLC increased its holdings in Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after buying an additional 260 shares in the last quarter. Finally, Synergy Investment Management LLC acquired a new position in shares of Cisco Systems in the fourth quarter worth about $36,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Trading Up 0.1 %

Shares of CSCO stock opened at $61.80 on Wednesday. The company’s 50-day moving average price is $62.16 and its 200-day moving average price is $58.77. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The stock has a market cap of $245.86 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 4.16 and a beta of 0.79.

Cisco Systems (NASDAQ:CSCO) last released 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 net margin of 16.96% and a return on equity of 26.08%. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a $0.41 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.65%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s payout ratio is 71.62%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, the chief executive officer now owns 736,120 shares in the company, valued at $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Richard Scott Herren sold 19,929 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $1,283,626.89. Following the completion of the sale, the chief financial officer now owns 335,605 shares in the company, valued at approximately $21,616,318.05. The trade was a 5.61 % 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 90 days. 0.01% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CSCO has been the topic of a number of analyst reports. Wells Fargo & Company restated an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $66.00 to $73.00 in a research report on Monday, January 6th. Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and increased their target price for the company from $66.00 to $80.00 in a research report on Thursday, February 13th. Citigroup reissued an “overweight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group upped their price objective on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.63.

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.