Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Marcum Wealth LLC

Marcum Wealth LLC trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 17.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,926 shares of the network equipment provider’s stock after selling 3,701 shares during the period. Marcum Wealth LLC’s holdings in Cisco Systems were worth $1,002,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Traveka Wealth LLC purchased a new stake in Cisco Systems in the fourth quarter valued at $201,000. AdvisorNet Financial Inc lifted its holdings in shares of Cisco Systems by 1.4% in the 4th quarter. AdvisorNet Financial Inc now owns 16,214 shares of the network equipment provider’s stock valued at $960,000 after buying an additional 217 shares during the period. First Financial Corp IN boosted its stake in shares of Cisco Systems by 10.3% in the fourth quarter. First Financial Corp IN now owns 10,672 shares of the network equipment provider’s stock worth $632,000 after buying an additional 993 shares during the last quarter. PFW Advisors LLC acquired a new stake in Cisco Systems during the fourth quarter worth about $2,360,000. Finally, Miracle Mile Advisors LLC raised its position in Cisco Systems by 421.3% during the fourth quarter. Miracle Mile Advisors LLC now owns 64,832 shares of the network equipment provider’s stock valued at $3,838,000 after acquiring an additional 52,396 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Citigroup raised their price objective on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. UBS Group lifted their price target on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Morgan Stanley increased their price target on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company boosted their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.28.

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This represents a 17.97 % 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 that occurred on Thursday, December 12th. The shares were 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 of the company’s stock, 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 have sold 353,522 shares of company stock worth $20,349,721 over the last three months. Company insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO opened at $58.76 on Tuesday. The firm has a 50-day simple moving average of $58.73 and a two-hundred day simple moving average of $53.26. The stock has a market cap of $234.03 billion, a PE ratio of 25.22, a P/E/G ratio of 4.37 and a beta of 0.84. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $60.23. 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 announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. As a group, analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

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.