Foundation Resource Management Inc. Decreases Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Foundation Resource Management Inc. decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,741 shares of the network equipment provider’s stock after selling 830 shares during the period. Cisco Systems makes up approximately 1.4% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 26th biggest position. Foundation Resource Management Inc.’s holdings in Cisco Systems were worth $8,569,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CSCO. West Financial Advisors LLC grew its stake in shares of Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares in the last quarter. Highline Wealth Partners LLC lifted its holdings in shares of Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after acquiring an additional 260 shares during the last quarter. Quarry LP grew its position in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in Cisco Systems during the third quarter worth approximately $40,000. Finally, Capital Performance Advisors LLP purchased a new stake in Cisco Systems during the third quarter valued at approximately $51,000. 73.33% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 21,230 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the transaction, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 86,351 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $4,964,318.99. Following the sale, the chief financial officer now owns 365,314 shares of the company’s stock, valued at approximately $21,001,901.86. This trade represents a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock worth $20,349,721 in the last quarter. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CSCO shares. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Citigroup lifted their price objective on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Tigress Financial increased their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Wells Fargo & Company lifted their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Finally, Evercore ISI upped their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $61.28.

Cisco Systems Price Performance

CSCO opened at $59.33 on Wednesday. The firm has a market capitalization of $236.30 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 4.37 and a beta of 0.85. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $60.23. The business’s 50-day moving average is $58.79 and its two-hundred day moving average is $53.34. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

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

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

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.