Desjardins Global Asset Management Inc. Sells 5,486 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Desjardins Global Asset Management Inc. cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 80,034 shares of the network equipment provider’s stock after selling 5,486 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Cisco Systems were worth $4,043,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Kathleen S. Wright Associates Inc. acquired a new position in Cisco Systems during the third quarter valued at approximately $27,000. Valued Wealth Advisors LLC acquired a new position in Cisco Systems during the fourth quarter valued at approximately $32,000. Fortis Capital Advisors LLC acquired a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $34,000. Morton Brown Family Wealth LLC lifted its position in shares of Cisco Systems by 41.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 208 shares during the last quarter. Finally, Bourgeon Capital Management LLC lifted its position in shares of Cisco Systems by 3,500.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 700 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CSCO has been the subject of a number of recent analyst reports. StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Melius Research reaffirmed a “hold” rating and issued a $55.00 price objective on shares of Cisco Systems in a research report on Monday, January 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Tuesday, April 9th. Citigroup began coverage on Cisco Systems in a research note on Friday. They set a “neutral” rating and a $52.00 target price on the stock. Finally, Barclays increased their target price on Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $56.03.

Cisco Systems Price Performance

Shares of CSCO traded down $0.14 during midday trading on Tuesday, hitting $48.10. The company’s stock had a trading volume of 8,780,290 shares, compared to its average volume of 19,568,238. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19. The company’s fifty day simple moving average is $49.22 and its two-hundred day simple moving average is $50.37. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $194.77 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 2.78 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The company had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. During the same quarter last year, the business posted $0.76 EPS. Cisco Systems’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, equities analysts expect that Cisco Systems, Inc. will post 3.15 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 3.33%. Cisco Systems’s payout ratio is presently 48.63%.

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.