Baker Tilly Wealth Management LLC Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Baker Tilly Wealth Management LLC decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 14.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,263 shares of the network equipment provider’s stock after selling 1,505 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Cisco Systems were worth $548,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Cisco Systems by 59.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after purchasing an additional 288,775 shares during the period. Morse Asset Management Inc acquired a new position in shares of Cisco Systems during the 3rd quarter worth $798,000. Citizens Financial Group Inc. RI raised its holdings in Cisco Systems by 24.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after acquiring an additional 51,924 shares during the last quarter. HighVista Strategies LLC purchased a new position in Cisco Systems in the third quarter valued at approximately $1,698,000. Finally, GAMMA Investing LLC lifted its stake in shares of Cisco Systems by 13.1% in the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after acquiring an additional 10,813 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Evercore ISI raised their target price on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday. Wells Fargo & Company increased their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Tigress Financial boosted their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.28.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 21,230 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the sale, the executive vice president now owns 213,834 shares of the company’s stock, valued at $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Victoria Wong sold 586 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the sale, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 353,522 shares of company stock valued at $20,349,721. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Cisco Systems stock traded down $0.32 during mid-day trading on Friday, hitting $58.88. 2,666,681 shares of the company traded hands, compared to its average volume of 14,503,546. The stock has a market cap of $234.50 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.23. The stock has a fifty day moving average price of $58.60 and a 200-day moving average price of $53.02.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, equities analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.72%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s payout ratio is currently 68.67%.

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.