Kellett Wealth Advisors LLC Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Kellett Wealth Advisors LLC trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,486 shares of the network equipment provider’s stock after selling 415 shares during the period. Kellett Wealth Advisors LLC’s holdings in Cisco Systems were worth $206,000 as of its most recent filing with the SEC.

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

Cisco Systems Stock Up 1.6 %

CSCO stock opened at $64.27 on Wednesday. The company has a market cap of $255.68 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 4.16 and a beta of 0.84. The firm has a 50-day moving average of $60.87 and a two-hundred day moving average of $56.56. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. As a group, analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.55%. Cisco Systems’s payout ratio is presently 71.62%.

Cisco Systems declared that its board has approved a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. UBS Group increased their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Barclays raised their target price on Cisco Systems from $56.00 to $61.00 and gave the company an “equal weight” rating in a research report on Thursday, February 13th. BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target for the company in a research note on Tuesday, January 28th. Piper Sandler increased their price target on Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $66.00 to $80.00 in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and an average target price of $66.53.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 3,042 shares of Cisco Systems stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total value of $180,055.98. Following the sale, the executive vice president now owns 207,798 shares in the company, valued at $12,299,563.62. The trade was a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction 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 transaction, the senior vice president now owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,848 shares of company stock valued at $4,767,206. 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.