Bright Futures Wealth Management LLC. Sells 28,786 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Bright Futures Wealth Management LLC. lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 73.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,605 shares of the network equipment provider’s stock after selling 28,786 shares during the period. Bright Futures Wealth Management LLC.’s holdings in Cisco Systems were worth $632,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CSCO. Exchange Traded Concepts LLC raised its position in shares of Cisco Systems by 57.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,126 shares of the network equipment provider’s stock worth $273,000 after acquiring an additional 1,876 shares in the last quarter. Creative Planning grew its stake in shares of Cisco Systems by 3.4% in the 3rd quarter. Creative Planning now owns 1,155,964 shares of the network equipment provider’s stock worth $60,979,000 after buying an additional 38,000 shares during the last quarter. Swedbank AB grew its stake in shares of Cisco Systems by 0.6% in the 3rd quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock worth $480,555,000 after buying an additional 52,711 shares during the last quarter. Sumitomo Life Insurance Co. grew its stake in shares of Cisco Systems by 2.4% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 36,707 shares of the network equipment provider’s stock worth $1,954,000 after buying an additional 847 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in shares of Cisco Systems by 0.8% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 188,268 shares of the network equipment provider’s stock worth $10,020,000 after buying an additional 1,553 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

CSCO stock opened at $63.84 on Friday. The company has a market cap of $254.26 billion, a P/E ratio of 27.40, a price-to-earnings-growth ratio of 4.63 and a beta of 0.84. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The stock’s fifty day moving average price is $59.89 and its 200-day moving average price is $55.36.

Cisco Systems (NASDAQ:CSCO) last released 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 return on equity of 25.70% and a net margin of 17.73%. On average, equities analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a $0.41 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. The Goldman Sachs Group upped their price target on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday. BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upped their price target on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, UBS Group increased their target price on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.53.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 21,230 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kristina M. Johnson sold 7,500 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the completion of the transaction, the director now directly owns 65,915 shares in the company, 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 three months, insiders have sold 37,239 shares of company stock valued at $2,166,612. 0.01% of the stock is owned by company insiders.

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.