Financial Symmetry Inc Sells 830 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Financial Symmetry Inc decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 11.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,724 shares of the network equipment provider’s stock after selling 830 shares during the quarter. Cisco Systems accounts for 0.3% of Financial Symmetry Inc’s portfolio, making the stock its 29th biggest holding. Financial Symmetry Inc’s holdings in Cisco Systems were worth $398,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CSCO. FPC Investment Advisory Inc. bought a new position in shares of Cisco Systems during the 4th quarter valued at approximately $26,000. Highline Wealth Partners LLC increased 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 valued at $35,000 after purchasing an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Cisco Systems during the 3rd quarter valued at approximately $40,000. Decker Retirement Planning Inc. bought a new position in shares of Cisco Systems during the 4th quarter valued at approximately $49,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Cisco Systems during the 3rd quarter valued at approximately $51,000. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 586 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Charles Robbins sold 31,983 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following 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 disclosure for this sale can be found here. Insiders sold 74,848 shares of company stock worth $4,767,206 in the last three months. 0.01% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several analyst reports. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $66.00 to $73.00 in a research report on Monday, January 6th. Wells Fargo & Company boosted their price objective on Cisco Systems from $60.00 to $72.00 and gave the company an “equal weight” rating in a report on Thursday, February 13th. Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $66.00 to $80.00 in a report on Thursday, February 13th. Barclays boosted their price objective on Cisco Systems from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Thursday, February 13th. Finally, Citigroup boosted their price objective on Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.53.

Cisco Systems Price Performance

Shares of CSCO stock opened at $64.27 on Wednesday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The stock has a market capitalization of $255.68 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 4.16 and a beta of 0.84. The stock has a fifty day simple moving average of $60.87 and a two-hundred day simple moving average of $56.56. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data 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 return on equity of 26.08% and a net margin of 16.96%. On average, analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. This is a boost 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 2.55%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio is 71.62%.

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.