Bryn Mawr Capital Management LLC Sells 371,687 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Bryn Mawr Capital Management LLC reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 91.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 34,176 shares of the network equipment provider’s stock after selling 371,687 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Cisco Systems were worth $2,023,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Highline Wealth Partners LLC increased its stake in 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 acquiring an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Cisco Systems during the 3rd quarter valued at approximately $40,000. Decker Retirement Planning Inc. purchased a new stake in Cisco Systems during the 4th quarter valued at $49,000. Capital Performance Advisors LLP bought a new stake in Cisco Systems in the third quarter worth $51,000. Finally, FSA Wealth Management LLC purchased a new position in Cisco Systems during the third quarter worth $56,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CSCO shares. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research report on Tuesday, January 28th. StockNews.com upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 14th. Barclays increased their price target on Cisco Systems from $56.00 to $61.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. Finally, Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $66.00 to $80.00 in a report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.53.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the sale, the chief executive officer now directly owns 736,120 shares in the company, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the sale, the executive vice president now directly owns 207,798 shares of the company’s stock, valued at approximately $12,299,563.62. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,921 shares of company stock worth $4,298,667. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $64.67 on Friday. The firm has a market cap of $257.57 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 4.16 and a beta of 0.84. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $60.55 and its 200 day moving average is $56.01.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.54%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio is presently 69.87%.

Cisco Systems announced that its board has approved a share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.