Headinvest LLC Sells 3,119 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Headinvest LLC reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 86,252 shares of the network equipment provider’s stock after selling 3,119 shares during the period. Headinvest LLC’s holdings in Cisco Systems were worth $5,106,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Norges Bank purchased a new position in Cisco Systems in the 4th quarter worth approximately $3,297,905,000. FMR LLC raised its position in Cisco Systems by 20.8% during the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock valued at $4,571,218,000 after purchasing an additional 13,285,052 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Cisco Systems during the fourth quarter valued at approximately $560,722,000. Alyeska Investment Group L.P. purchased a new stake in Cisco Systems in the fourth quarter worth $413,491,000. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in Cisco Systems by 187.9% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider’s stock valued at $442,749,000 after acquiring an additional 4,880,747 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Performance

Shares of CSCO opened at $63.20 on Thursday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The business’s fifty day simple moving average is $58.95 and its two-hundred day simple moving average is $59.83. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a market cap of $251.43 billion, a price-to-earnings ratio of 27.60, a P/E/G ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Cisco Systems’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. Research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.59%. Cisco Systems’s payout ratio is 66.94%.

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

Wall Street Analysts Forecast Growth

Several equities 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 research report on Thursday, February 13th. Rosenblatt Securities lifted their price objective on Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. The Goldman Sachs Group raised their target price on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price on the stock in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Insider Buying and Selling

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 11,808 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $64.37, for a total value of $760,080.96. Following the transaction, the executive vice president now directly owns 200,191 shares of the company’s stock, valued at approximately $12,886,294.67. This trade represents a 5.57% 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, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares of the company’s stock, valued at $11,604,868.80. The trade was a 1.07% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,239 shares of company stock worth $2,181,437. 0.01% of the stock is owned by insiders.

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.