FourThought Financial Partners LLC Sells 392 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

FourThought Financial Partners LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 176,939 shares of the network equipment provider’s stock after selling 392 shares during the quarter. Cisco Systems accounts for approximately 1.1% of FourThought Financial Partners LLC’s holdings, making the stock its 27th biggest holding. FourThought Financial Partners LLC’s holdings in Cisco Systems were worth $10,475,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FPC Investment Advisory Inc. bought a new position in shares of Cisco Systems during the 4th quarter valued at about $26,000. Highline Wealth Partners LLC lifted its stake in Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of Cisco Systems in the third quarter valued at approximately $40,000. Decker Retirement Planning Inc. acquired a new position in shares of Cisco Systems in the 4th quarter worth approximately $49,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Cisco Systems in the 3rd quarter worth approximately $51,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Down 1.2 %

Shares of NASDAQ CSCO opened at $63.24 on Tuesday. The company has a market capitalization of $251.59 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The business has a 50-day moving average of $60.75 and a two-hundred day moving average of $56.42. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last announced its 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, analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems announced that its board has initiated a stock repurchase 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 reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.59%. Cisco Systems’s dividend payout ratio is currently 69.87%.

Insider Buying and Selling at Cisco Systems

In related news, SVP Maria Victoria Wong sold 586 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the transaction, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at $2,979,515.23. This trade represents a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,729 shares of company stock valued at $5,058,748 in the last ninety days. Insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the subject of several recent analyst reports. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price for the company in a research note on Tuesday, January 28th. Wells Fargo & Company increased their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday, February 13th. Rosenblatt Securities raised Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $66.00 to $80.00 in a research note on Thursday, February 13th. StockNews.com downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Bank of America lifted their price objective on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.53.

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.