United Services Automobile Association Sells 655 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

United Services Automobile Association decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 965,816 shares of the network equipment provider’s stock after selling 655 shares during the period. Cisco Systems comprises approximately 1.9% of United Services Automobile Association’s investment portfolio, making the stock its 17th biggest holding. United Services Automobile Association’s holdings in Cisco Systems were worth $57,176,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Cisco Systems during the 4th quarter worth $560,722,000. FMR LLC lifted its position in shares of Cisco Systems by 10.1% during 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 buying an additional 5,885,879 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Cisco Systems by 327.5% in the 3rd quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock valued at $362,907,000 after buying an additional 5,223,800 shares in the last quarter. National Bank of Canada FI grew its position in shares of Cisco Systems by 79.6% in the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock worth $477,463,000 after buying an additional 3,975,028 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Cisco Systems by 1.7% during the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after acquiring an additional 3,241,682 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In other news, CFO Richard Scott Herren sold 19,929 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $1,283,626.89. Following the completion of the sale, the chief financial officer now owns 335,605 shares of the company’s stock, valued at $21,616,318.05. This represents a 5.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the sale, the chief executive officer now directly owns 736,120 shares in the company, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several analyst reports. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Wells Fargo & Company restated an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. StockNews.com cut Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 5th. Morgan Stanley upped their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Citigroup reiterated an “overweight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Seven 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’s stock. According to MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and an average price target of $66.63.

Cisco Systems Stock Down 0.5 %

CSCO stock opened at $60.30 on Monday. The firm’s fifty day moving average is $61.95 and its 200 day moving average is $58.17. The firm has a market cap of $239.89 billion, a PE ratio of 26.33, a P/E/G ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87.

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

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

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be issued a $0.41 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.72%. Cisco Systems’s dividend payout ratio is presently 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.