Kuhn & Co Investment Counsel Sells 4,530 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Kuhn & Co Investment Counsel cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 38.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,170 shares of the network equipment provider’s stock after selling 4,530 shares during the quarter. Kuhn & Co Investment Counsel’s holdings in Cisco Systems were worth $424,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Highline Wealth Partners LLC increased its holdings in shares of Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares during the period. RPg Family Wealth Advisory LLC bought a new position in shares of Cisco Systems during the third quarter worth approximately $40,000. Decker Retirement Planning Inc. bought a new position in shares of Cisco Systems during the fourth quarter worth approximately $49,000. Capital Performance Advisors LLP bought a new position in shares of Cisco Systems during the third quarter worth approximately $51,000. Finally, FSA Wealth Management LLC bought a new position in shares of Cisco Systems during the third quarter worth approximately $56,000. 73.33% of the stock is owned by institutional investors.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 586 shares of Cisco Systems stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the sale, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. The trade was a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,239 shares of company stock worth $2,166,612. Company insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $64.87 on Friday. The firm has a market cap of $258.36 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 4.63 and a beta of 0.84. The firm’s fifty day moving average is $60.07 and its 200-day moving average is $55.54. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Sell-side analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems announced that its board has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is 68.67%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. UBS Group raised their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday. Piper Sandler increased their price target on shares of Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday. Barclays increased their price target on shares of Cisco Systems from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Thursday. Morgan Stanley increased their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, StockNews.com upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and an average price target of $66.53.

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.