FLC Capital Advisors Cuts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

FLC Capital Advisors decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,915 shares of the network equipment provider’s stock after selling 339 shares during the quarter. FLC Capital Advisors’ holdings in Cisco Systems were worth $1,238,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. FMR LLC boosted its stake in Cisco Systems by 10.1% during the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after buying an additional 5,885,879 shares during the period. Two Sigma Advisers LP boosted its stake in shares of Cisco Systems by 327.5% during the 3rd quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock worth $362,907,000 after purchasing an additional 5,223,800 shares during the period. Pathway Financial Advisers LLC grew its holdings in Cisco Systems by 5,231.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock valued at $262,646,000 after purchasing an additional 4,842,542 shares during the last quarter. National Bank of Canada FI raised its position in Cisco Systems by 79.6% in the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock worth $477,463,000 after purchasing an additional 3,975,028 shares during the period. Finally, State Street Corp lifted its stake in Cisco Systems by 1.7% in the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after purchasing an additional 3,241,682 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 0.7 %

NASDAQ CSCO opened at $60.23 on Monday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $60.95. The company has a 50 day moving average price of $58.91 and a 200 day moving average price of $53.57. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The firm has a market cap of $239.88 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.66%. Cisco Systems’s payout ratio is 68.67%.

Insider Activity

In other news, CEO Charles Robbins sold 171,744 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 4,881 shares of Cisco Systems stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total value of $291,542.13. Following the sale, the senior vice president now directly owns 51,931 shares of the company’s stock, valued at $3,101,838.63. This trade represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock worth $20,349,721 over the last 90 days. 0.01% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. UBS Group raised their price target on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Morgan Stanley lifted their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their target price for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.50.

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.