Sheets Smith Wealth Management Sells 1,727 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Sheets Smith Wealth Management lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,818 shares of the network equipment provider’s stock after selling 1,727 shares during the quarter. Sheets Smith Wealth Management’s holdings in Cisco Systems were worth $749,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CSCO. Jacobsen Capital Management lifted its holdings in Cisco Systems by 18.3% during the third quarter. Jacobsen Capital Management now owns 5,284 shares of the network equipment provider’s stock worth $284,000 after acquiring an additional 818 shares during the period. Sage Mountain Advisors LLC lifted its holdings in Cisco Systems by 7.8% during the third quarter. Sage Mountain Advisors LLC now owns 29,976 shares of the network equipment provider’s stock worth $1,611,000 after acquiring an additional 2,175 shares during the period. Gill Capital Partners LLC lifted its holdings in Cisco Systems by 5.2% during the third quarter. Gill Capital Partners LLC now owns 4,155 shares of the network equipment provider’s stock worth $223,000 after acquiring an additional 207 shares during the period. Sawyer & Company Inc lifted its holdings in Cisco Systems by 3.2% during the third quarter. Sawyer & Company Inc now owns 46,138 shares of the network equipment provider’s stock worth $2,480,000 after acquiring an additional 1,423 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its holdings in Cisco Systems by 1.4% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 759,605 shares of the network equipment provider’s stock worth $40,836,000 after acquiring an additional 10,169 shares during the period. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. JPMorgan Chase & Co. assumed coverage on Cisco Systems in a research report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their target price on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 9th. Wells Fargo & Company started coverage on Cisco Systems in a research report on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price target for the company. Barclays lifted their price target on Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Finally, Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $55.00 to $60.00 in a research report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Cisco Systems has an average rating of “Hold” and a consensus target price of $55.53.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The disclosure for this sale can be found here. Insiders have sold 19,441 shares of company stock worth $972,080 over the last ninety days. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Trading Down 0.1 %

Shares of Cisco Systems stock traded down $0.04 on Monday, hitting $47.08. The stock had a trading volume of 6,771,798 shares, compared to its average volume of 19,030,568. The stock’s 50-day simple moving average is $48.79 and its two-hundred day simple moving average is $49.77. Cisco Systems, Inc. has a one year low of $45.70 and a one year high of $58.19. 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 cap of $190.64 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 2.72 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) 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 firm had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. During the same period in the previous year, the firm earned $0.76 earnings per share. The business’s revenue was down 5.9% compared to the same quarter last year. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend was Wednesday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio (DPR) is presently 48.63%.

About Cisco Systems

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.