DT Investment Partners LLC Sells 516 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

DT Investment Partners LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,366 shares of the network equipment provider’s stock after selling 516 shares during the quarter. DT Investment Partners LLC’s holdings in Cisco Systems were worth $1,502,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC grew its position in shares of Cisco Systems by 57.7% during the third quarter. Exchange Traded Concepts LLC now owns 5,126 shares of the network equipment provider’s stock valued at $273,000 after purchasing an additional 1,876 shares in the last quarter. Creative Planning grew its position in shares of Cisco Systems by 3.4% during the third quarter. Creative Planning now owns 1,155,964 shares of the network equipment provider’s stock valued at $60,979,000 after purchasing an additional 38,000 shares in the last quarter. Swedbank AB grew its position in shares of Cisco Systems by 0.6% during the third quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock valued at $480,555,000 after purchasing an additional 52,711 shares in the last quarter. Sumitomo Life Insurance Co. grew its position in shares of Cisco Systems by 2.4% during the third quarter. Sumitomo Life Insurance Co. now owns 36,707 shares of the network equipment provider’s stock valued at $1,954,000 after purchasing an additional 847 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in shares of Cisco Systems by 0.8% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 188,268 shares of the network equipment provider’s stock valued at $10,020,000 after purchasing an additional 1,553 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were 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 owns 50,767 shares of the company’s stock, valued at $2,979,515.23. The trade was a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the transaction, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at $12,203,506.38. This trade represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,239 shares of company stock valued at $2,166,612. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 2.1 %

Shares of NASDAQ:CSCO opened at $63.84 on Friday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The business has a 50 day simple moving average of $59.89 and a two-hundred day simple moving average of $55.36. The firm has a market capitalization of $254.26 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 4.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. On average, equities analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Thursday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is currently 68.67%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CSCO. JPMorgan Chase & Co. raised their price objective on Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $80.00 in a research report on Thursday. Wells Fargo & Company lifted their price target on Cisco Systems from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Citigroup lifted their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $66.53.

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.