TrinityPoint Wealth LLC Has $1.27 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

TrinityPoint Wealth LLC grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 21,363 shares of the network equipment provider’s stock after buying an additional 1,247 shares during the period. TrinityPoint Wealth LLC’s holdings in Cisco Systems were worth $1,265,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Mainstream Capital Management LLC acquired a new position in Cisco Systems in the fourth quarter worth about $132,000. Proficio Capital Partners LLC raised its position in Cisco Systems by 76.4% in the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock worth $1,003,000 after purchasing an additional 7,338 shares in the last quarter. CENTRAL TRUST Co raised its position in Cisco Systems by 4.8% in the fourth quarter. CENTRAL TRUST Co now owns 112,101 shares of the network equipment provider’s stock worth $6,636,000 after purchasing an additional 5,123 shares in the last quarter. Requisite Capital Management LLC acquired a new position in Cisco Systems in the fourth quarter worth about $1,670,000. Finally, Stonegate Investment Group LLC raised its position in Cisco Systems by 0.8% in the fourth quarter. Stonegate Investment Group LLC now owns 1,539,557 shares of the network equipment provider’s stock worth $91,142,000 after purchasing an additional 11,506 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CSCO shares. The Goldman Sachs Group increased their price target 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. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research note on Tuesday, January 28th. Wells Fargo & Company raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $72.00 to $75.00 in a research note on Thursday. New Street Research reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Cisco Systems in a research note on Friday. Finally, Barclays upped their price objective on shares of Cisco Systems from $61.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Thursday. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Insider Transactions at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 11,808 shares of Cisco Systems stock in a transaction on Friday, February 21st. The shares were sold at an average price of $64.37, for a total transaction of $760,080.96. Following the transaction, the executive vice president now directly owns 200,191 shares of the company’s stock, valued at $12,886,294.67. This trade represents a 5.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,635 shares of company stock valued at $931,901 over the last three months. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Price Performance

Shares of CSCO stock opened at $63.62 on Friday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The stock has a market cap of $253.10 billion, a PE ratio of 27.78, a PEG ratio of 4.16 and a beta of 0.89. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The firm’s 50 day moving average price is $58.75 and its two-hundred day moving average price is $59.69.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.05. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The firm had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. During the same period last year, the firm earned $0.88 earnings per share. As a group, analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.58%. Cisco Systems’s dividend payout ratio is 71.62%.

Cisco Systems announced that its board has approved 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is 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.