Keb Asset Management LLC Trims Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Keb Asset Management LLC reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.8% in the 4th quarter, Holdings Channel reports. The fund owned 3,885 shares of the network equipment provider’s stock after selling 196 shares during the period. Keb Asset Management LLC’s holdings in Cisco Systems were worth $230,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in shares of Cisco Systems in the fourth quarter worth approximately $560,722,000. FMR LLC raised 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 purchasing an additional 5,885,879 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of Cisco Systems by 327.5% in the 3rd quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock valued at $362,907,000 after purchasing an additional 5,223,800 shares during the last quarter. National Bank of Canada FI grew its stake in shares of Cisco Systems by 79.6% during the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock valued at $477,463,000 after buying an additional 3,975,028 shares during the period. Finally, State Street Corp increased its holdings in shares of Cisco Systems by 1.7% during the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after buying an additional 3,241,682 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cisco Systems

In related news, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the sale, the chief executive officer now owns 736,120 shares of the company’s stock, valued at $47,413,489.20. This represents a 4.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the transaction, the senior vice president now directly owns 50,767 shares in the company, valued at $2,979,515.23. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,348 shares of company stock valued at $4,318,181 over the last three months. 0.01% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on CSCO. Morgan Stanley lifted their target price on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Citigroup reaffirmed an “overweight” rating on shares of Cisco Systems in a research note on Thursday. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a research report on Thursday. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Finally, Rosenblatt Securities raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $66.00 to $80.00 in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and an average target price of $66.63.

Cisco Systems Stock Performance

Shares of CSCO opened at $63.94 on Monday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The firm has a market cap of $254.37 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 4.16 and a beta of 0.79. The business’s 50 day moving average is $61.63 and its two-hundred day moving average is $57.44.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (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%. Analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

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

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.56%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is 71.62%.

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.