Hourglass Capital LLC Sells 1,565 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Hourglass Capital LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,852 shares of the network equipment provider’s stock after selling 1,565 shares during the quarter. Cisco Systems makes up about 2.3% of Hourglass Capital LLC’s investment portfolio, making the stock its 10th largest holding. Hourglass Capital LLC’s holdings in Cisco Systems were worth $8,338,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CSCO. Highline Wealth Partners LLC lifted its holdings in Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after buying an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in Cisco Systems during the third quarter worth $40,000. Decker Retirement Planning Inc. bought a new position in Cisco Systems during the fourth quarter worth $49,000. Capital Performance Advisors LLP bought a new stake in Cisco Systems during the third quarter valued at $51,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Cisco Systems during the third quarter worth $56,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 3,042 shares of Cisco Systems stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $59.19, for a total value of $180,055.98. Following the transaction, the executive vice president now owns 207,798 shares of the company’s stock, valued at approximately $12,299,563.62. This trade represents a 1.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,239 shares of company stock worth $2,166,612 in the last ninety days. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $64.87 on Friday. The stock’s 50 day moving average price is $60.07 and its 200 day moving average price is $55.54. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The stock has a market cap of $258.36 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 4.63 and a beta of 0.84. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data 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%. Equities research analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

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

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a $0.41 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.53%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is currently 68.67%.

Analysts Set New Price Targets

CSCO has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Cisco Systems from $56.00 to $61.00 and gave the company an “equal weight” 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. Citigroup raised their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday. BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price on the stock in a research report on Tuesday, January 28th. Finally, The Goldman Sachs Group raised their target price on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.