W.G. Shaheen & Associates DBA Whitney & Co Sells 363 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

W.G. Shaheen & Associates DBA Whitney & Co reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,768 shares of the network equipment provider’s stock after selling 363 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Cisco Systems were worth $756,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CSCO. State Street Corp lifted its stake in shares of Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after purchasing an additional 3,241,682 shares during the period. Geode Capital Management LLC boosted its holdings in Cisco Systems by 1.3% during the third quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after purchasing an additional 1,262,017 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Cisco Systems by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock valued at $4,402,239,000 after purchasing an additional 1,677,383 shares during the last quarter. FMR LLC lifted its stake in Cisco Systems by 10.1% in the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after purchasing an additional 5,885,879 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Cisco Systems by 1.2% in the fourth quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock worth $1,107,930,000 after purchasing an additional 216,632 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Citigroup lifted their target price on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Finally, 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 note on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and an average target price of $66.53.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the transaction, the chief executive officer now directly owns 736,120 shares in the company, valued at $47,413,489.20. This represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 4,881 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total value of $291,542.13. Following the transaction, the senior vice president now directly owns 51,931 shares in the company, valued at approximately $3,101,838.63. This represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,921 shares of company stock worth $4,298,667. 0.01% of the stock is owned by company insiders.

Cisco Systems Stock Down 1.1 %

Shares of NASDAQ CSCO opened at $63.98 on Monday. 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 50-day moving average price of $60.65 and a 200 day moving average price of $56.30. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The stock has a market capitalization of $254.53 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84.

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%. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 annualized dividend and a yield of 2.56%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is presently 69.87%.

Cisco Systems declared that its board has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Cisco Systems 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.