SMART Wealth LLC Sells 1,421 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

SMART Wealth LLC decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 29.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,468 shares of the network equipment provider’s stock after selling 1,421 shares during the quarter. SMART Wealth LLC’s holdings in Cisco Systems were worth $205,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Fairvoy Private Wealth LLC acquired a new stake in Cisco Systems in the fourth quarter valued at approximately $251,000. Keystone Financial Group Inc. purchased a new stake in shares of Cisco Systems during the 4th quarter valued at $254,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Cisco Systems by 11.4% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 279,076 shares of the network equipment provider’s stock worth $16,513,000 after buying an additional 28,600 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Cisco Systems by 1.8% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 719,961 shares of the network equipment provider’s stock valued at $42,622,000 after buying an additional 12,848 shares in the last quarter. Finally, RNC Capital Management LLC boosted its holdings in Cisco Systems by 14.7% in the fourth quarter. RNC Capital Management LLC now owns 1,085,899 shares of the network equipment provider’s stock worth $64,285,000 after acquiring an additional 139,323 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Cisco Systems news, CFO Richard Scott Herren sold 86,351 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the sale, the chief financial officer now directly owns 365,314 shares in the company, valued at $21,001,901.86. This represents a 19.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction dated 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 transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock valued at $20,349,721 over the last three months. Insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $62.27 on Friday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $62.91. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The firm has a market cap of $248.01 billion, a P/E ratio of 26.73, a PEG ratio of 4.51 and a beta of 0.84. The business’s 50-day moving average price is $59.59 and its 200 day moving average price is $54.82.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 earnings per share. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CSCO shares. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Tigress Financial raised their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a report on Tuesday, January 28th. Finally, Melius raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $66.00 to $73.00 in a report on Monday, January 6th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.72.

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.