Livingston Group Asset Management CO operating as Southport Capital Management cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 109,922 shares of the network equipment provider’s stock after selling 5,974 shares during the period. Cisco Systems comprises approximately 1.6% of Livingston Group Asset Management CO operating as Southport Capital Management’s portfolio, making the stock its 5th largest holding. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Cisco Systems were worth $4,210,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the company. Webster Bank N. A. lifted its stake in Cisco Systems by 2.0% during the fourth quarter. Webster Bank N. A. now owns 155,646 shares of the network equipment provider’s stock worth $5,961,000 after purchasing an additional 3,064 shares during the last quarter. Partnervest Advisory Services LLC lifted its stake in Cisco Systems by 7.2% during the fourth quarter. Partnervest Advisory Services LLC now owns 18,184 shares of the network equipment provider’s stock worth $696,000 after purchasing an additional 1,221 shares during the last quarter. Bredin Investment LLC purchased a new stake in Cisco Systems during the fourth quarter worth approximately $2,387,000. Segment Wealth Management LLC lifted its stake in Cisco Systems by 6.5% during the fourth quarter. Segment Wealth Management LLC now owns 104,256 shares of the network equipment provider’s stock worth $3,993,000 after purchasing an additional 6,389 shares during the last quarter. Finally, Narwhal Capital Management lifted its stake in Cisco Systems by 2.1% during the fourth quarter. Narwhal Capital Management now owns 161,613 shares of the network equipment provider’s stock worth $6,190,000 after purchasing an additional 3,343 shares during the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.
In related news, EVP David Goeckeler sold 20,671 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $45.50, for a total transaction of $940,530.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director M Michele Burns sold 12,126 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $45.37, for a total value of $550,156.62. Following the transaction, the director now directly owns 74,479 shares in the company, valued at approximately $3,379,112.23. The disclosure for this sale can be found here. Insiders have sold 46,986 shares of company stock worth $2,116,422 in the last ninety days. 0.05% of the stock is currently owned by corporate insiders.
Several equities research analysts recently weighed in on the company. Piper Jaffray Companies restated an “overweight” rating and set a $44.00 target price on shares of Cisco Systems in a research note on Wednesday, January 10th. William Blair restated an “outperform” rating on shares of Cisco Systems in a research note on Thursday, February 15th. Zacks Investment Research cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. Royal Bank of Canada restated a “buy” rating and set a $44.00 target price on shares of Cisco Systems in a research note on Monday, February 12th. Finally, KeyCorp boosted their target price on Cisco Systems from $43.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. Cisco Systems currently has an average rating of “Buy” and a consensus target price of $44.25.
Cisco Systems, Inc. (NASDAQ CSCO) opened at $43.07 on Friday. The stock has a market capitalization of $213,464.23, a P/E ratio of -134.59, a PEG ratio of 2.98 and a beta of 1.10. The company has a quick ratio of 2.38, a current ratio of 2.43 and a debt-to-equity ratio of 0.49. Cisco Systems, Inc. has a twelve month low of $30.36 and a twelve month high of $46.16.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.04. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.82 billion. Cisco Systems had a positive return on equity of 17.77% and a negative net margin of 3.00%. During the same quarter in the previous year, the company posted $0.57 earnings per share. sell-side analysts forecast that Cisco Systems, Inc. will post 2.32 EPS for the current year.
Cisco Systems declared that its Board of Directors has authorized a share buyback program on Wednesday, February 14th that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, April 5th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Wednesday, April 4th. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s dividend payout ratio is currently -362.50%.
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Cisco Systems Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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