CIBC Private Wealth Group LLC Lowers Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

CIBC Private Wealth Group LLC lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,452,485 shares of the network equipment provider’s stock after selling 266,075 shares during the period. Cisco Systems makes up approximately 0.9% of CIBC Private Wealth Group LLC’s portfolio, making the stock its 17th largest position. CIBC Private Wealth Group LLC owned approximately 0.21% of Cisco Systems worth $500,387,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CSCO. Public Sector Pension Investment Board boosted its stake in shares of Cisco Systems by 12.7% during the third quarter. Public Sector Pension Investment Board now owns 175,424 shares of the network equipment provider’s stock valued at $9,336,000 after purchasing an additional 19,800 shares during the period. Fred Alger Management LLC boosted its stake in shares of Cisco Systems by 4.7% in the third quarter. Fred Alger Management LLC now owns 105,069 shares of the network equipment provider’s stock worth $5,592,000 after buying an additional 4,759 shares during the last quarter. TRUE Private Wealth Advisors increased its holdings in Cisco Systems by 4.2% in the third quarter. TRUE Private Wealth Advisors now owns 20,516 shares of the network equipment provider’s stock valued at $1,092,000 after buying an additional 829 shares in the last quarter. Point72 Europe London LLP purchased a new position in shares of Cisco Systems during the 3rd quarter valued at approximately $11,357,000. Finally, Edgestream Partners L.P. raised its holdings in shares of Cisco Systems by 194.3% during the third quarter. Edgestream Partners L.P. now owns 130,569 shares of the network equipment provider’s stock valued at $6,949,000 after acquiring an additional 86,197 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Down 0.9 %

NASDAQ:CSCO opened at $60.86 on Friday. The company has a market cap of $242.12 billion, a PE ratio of 26.58, a P/E/G ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The company’s 50 day moving average is $62.11 and its two-hundred day moving average is $58.54. 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 released 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%. Analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

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 paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 2.69%. Cisco Systems’s payout ratio is currently 71.62%.

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

Analyst Ratings Changes

Several analysts recently issued reports on the stock. UBS Group boosted their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. DZ Bank upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Morgan Stanley raised their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective for the company in a research note on Tuesday, January 28th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus target price of $66.63.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the sale, the senior vice president now directly owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. This trade represents a 1.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, the chief executive officer now owns 736,120 shares of the company’s stock, valued at $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,547 shares of company stock valued at $4,275,553 over the last three months. 0.01% of the stock is currently owned by company insiders.

About Cisco Systems

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.