Stonebrook Private Inc. Sells 4,787 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Stonebrook Private Inc. trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 30.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 10,964 shares of the network equipment provider’s stock after selling 4,787 shares during the period. Stonebrook Private Inc.’s holdings in Cisco Systems were worth $649,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CSCO. Pflug Koory LLC raised its position in Cisco Systems by 0.5% during the 4th quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock worth $1,955,000 after purchasing an additional 165 shares during the last quarter. Glass Jacobson Investment Advisors llc raised its position in Cisco Systems by 8.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock worth $123,000 after purchasing an additional 166 shares during the last quarter. Fairhaven Wealth Management LLC raised its position in Cisco Systems by 2.3% during the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock worth $449,000 after purchasing an additional 167 shares during the last quarter. BlackDiamond Wealth Management LLC raised its position in Cisco Systems by 3.1% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock worth $335,000 after purchasing an additional 168 shares during the last quarter. Finally, Maple Capital Management Inc. raised its position in Cisco Systems by 1.4% during the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock worth $709,000 after purchasing an additional 170 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CSCO shares. UBS Group raised their target price on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. BNP Paribas upgraded 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. Evercore ISI increased their price target on Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday. Barclays increased their price target on Cisco Systems from $61.00 to $66.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Rosenblatt Securities increased their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Cisco Systems Trading Down 1.0%

NASDAQ:CSCO opened at $63.62 on Friday. 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 capitalization of $253.10 billion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. The firm’s 50 day moving average is $58.75 and its 200 day moving average is $59.69. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results 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 business had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter in the previous year, the firm posted $0.88 EPS. Sell-side analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued 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 yield of 2.58%. Cisco Systems’s payout ratio is 71.62%.

Cisco Systems declared that its board has approved a share buyback plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 11,808 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $64.37, for a total value of $760,080.96. Following the completion of the transaction, the executive vice president now directly owns 200,191 shares in the company, valued at approximately $12,886,294.67. This represents a 5.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,635 shares of company stock valued at $931,901 in the last 90 days. 0.01% of the stock is currently owned by company insiders.

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.