Clarkston Capital Partners LLC trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 2.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,700 shares of the network equipment provider’s stock after selling 1,950 shares during the period. Clarkston Capital Partners LLC’s holdings in Cisco Systems were worth $4,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also made changes to their positions in CSCO. Pflug Koory LLC boosted its holdings in Cisco Systems by 0.5% in the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock valued at $1,955,000 after purchasing an additional 165 shares in the last quarter. Fairhaven Wealth Management LLC boosted its holdings in shares of Cisco Systems by 2.3% in the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock valued at $449,000 after buying an additional 167 shares in the last quarter. BlackDiamond Wealth Management LLC grew its position in shares of Cisco Systems by 3.1% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock valued at $335,000 after buying an additional 168 shares during the last quarter. Maple Capital Management Inc. raised its stake in Cisco Systems by 1.4% during the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock worth $709,000 after acquiring an additional 170 shares in the last quarter. Finally, Pathway Financial Advisors LLC lifted its position in Cisco Systems by 3.1% in the fourth quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider’s stock valued at $343,000 after acquiring an additional 172 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Cisco Systems
In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares in the company, valued at $11,604,868.80. The trade was a 1.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $2,060,025.03. Following the transaction, the chief executive officer now 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,547 shares of company stock valued at $4,275,553. Insiders own 0.01% of the company’s stock.
Wall Street Analysts Forecast Growth
Check Out Our Latest Report on CSCO
Cisco Systems Stock Performance
NASDAQ:CSCO opened at $54.54 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The firm’s fifty day simple moving average is $61.91 and its 200-day simple moving average is $58.87. The stock has a market cap of $216.98 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 4.16 and a beta of 0.86.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) 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%. Analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.
Cisco Systems declared that its board has authorized a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Cisco Systems Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.01%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s payout ratio is presently 71.62%.
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.
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