Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 56.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,179 shares of the network equipment provider’s stock after selling 7,913 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Cisco Systems were worth $366,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new stake in Cisco Systems in the 4th quarter valued at about $26,000. Campbell Capital Management Inc. acquired a new stake in shares of Cisco Systems during the 4th quarter worth about $31,000. Highline Wealth Partners LLC raised its position in shares of 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 acquiring an additional 260 shares in the last quarter. Synergy Investment Management LLC acquired a new stake in shares of Cisco Systems during the 4th quarter worth about $36,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of Cisco Systems during the 3rd quarter worth about $40,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling

In related news, CEO Charles Robbins sold 31,983 shares of Cisco Systems 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 of the company’s stock, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Richard Scott Herren sold 19,929 shares of Cisco Systems stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $1,283,626.89. Following the transaction, the chief financial officer now directly owns 335,605 shares of the company’s stock, valued at approximately $21,616,318.05. This represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,547 shares of company stock valued at $4,275,553. 0.01% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CSCO shares. Morgan Stanley raised 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. JPMorgan Chase & Co. raised their price target on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. The Goldman Sachs Group raised their price target on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and raised their price target for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.63.

Cisco Systems Stock Down 1.0 %

Cisco Systems stock opened at $60.30 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The company has a market cap of $239.89 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. The stock’s 50 day moving average price is $61.86 and its 200 day moving average price is $57.94.

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

Cisco Systems Increases Dividend

The firm 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. The ex-dividend date is Thursday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.72%. Cisco Systems’s payout ratio is 71.62%.

Cisco Systems declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is 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.