Principle Wealth Partners LLC Sells 817 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Principle Wealth Partners LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 193,258 shares of the network equipment provider’s stock after selling 817 shares during the quarter. Principle Wealth Partners LLC’s holdings in Cisco Systems were worth $11,441,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Highline Wealth Partners LLC grew its position 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 buying an additional 260 shares during the period. RPg Family Wealth Advisory LLC bought a new position in Cisco Systems during the 3rd quarter worth approximately $40,000. Decker Retirement Planning Inc. acquired a new position in Cisco Systems during the fourth quarter valued at approximately $49,000. Capital Performance Advisors LLP bought a new stake in Cisco Systems in the third quarter valued at approximately $51,000. Finally, FSA Wealth Management LLC bought a new position in shares of Cisco Systems during the third quarter worth $56,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Up 0.9 %

CSCO stock opened at $62.81 on Tuesday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $63.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The stock has a market capitalization of $250.16 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 4.63 and a beta of 0.84. The business’s fifty day moving average price is $59.71 and its two-hundred day moving average price is $55.10.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 EPS. On average, equities analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.55%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Insider Buying and Selling at Cisco Systems

In related news, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now owns 783,786 shares in the company, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Scott Herren sold 86,351 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the sale, the chief financial officer now directly owns 365,314 shares of the company’s stock, valued at $21,001,901.86. This represents a 19.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock valued at $20,349,721 in the last three months. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CSCO. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the company from $66.00 to $73.00 in a research report on Monday, January 6th. UBS Group raised their price target on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Bank of America boosted their price objective on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Morgan Stanley raised their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Citigroup upped their price target on shares of Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a report on Friday, January 17th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and an average price target of $62.72.

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.