Cornerstone Wealth Management LLC Sells 513 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Cornerstone Wealth Management LLC decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 42,397 shares of the network equipment provider’s stock after selling 513 shares during the period. Cornerstone Wealth Management LLC’s holdings in Cisco Systems were worth $2,510,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of Cisco Systems by 49.5% during the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after purchasing an additional 24,562 shares during the period. Montecito Bank & Trust raised its position in Cisco Systems by 6.0% during the 4th quarter. Montecito Bank & Trust now owns 41,344 shares of the network equipment provider’s stock valued at $2,448,000 after purchasing an additional 2,345 shares during the last quarter. Lifestyle Asset Management Inc. purchased a new stake in Cisco Systems in the 4th quarter worth approximately $239,000. Apeiron RIA LLC increased its stake in shares of Cisco Systems by 6.2% during the fourth quarter. Apeiron RIA LLC now owns 6,910 shares of the network equipment provider’s stock valued at $409,000 after buying an additional 405 shares during the period. Finally, Secure Asset Management LLC raised its holdings in shares of Cisco Systems by 53.2% during the fourth quarter. Secure Asset Management LLC now owns 6,492 shares of the network equipment provider’s stock valued at $384,000 after acquiring an additional 2,254 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Trading Up 1.0 %

Shares of NASDAQ CSCO opened at $62.23 on Friday. The firm’s 50 day moving average price is $59.04 and its 200-day moving average price is $53.86. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $62.32. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The company has a market cap of $247.85 billion, a PE ratio of 26.71, a P/E/G ratio of 4.54 and a beta of 0.84.

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

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Analyst Ratings Changes

Several analysts recently weighed in on CSCO shares. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Citigroup boosted their price target on shares of Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Wells Fargo & Company increased 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. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Finally, Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and raised their target price for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Eight 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 MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average target price of $61.50.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 86,351 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kristina M. Johnson sold 7,500 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $59.87, for a total value of $449,025.00. Following the sale, the director now owns 65,915 shares of the company’s stock, valued at approximately $3,946,331.05. This represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 353,522 shares of company stock worth $20,349,721. Company insiders own 0.01% of the company’s stock.

Cisco Systems 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.