Cerro Pacific Wealth Advisors LLC Sells 1,442 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Cerro Pacific Wealth Advisors LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 30,562 shares of the network equipment provider’s stock after selling 1,442 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Cisco Systems were worth $1,809,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lifestyle Asset Management Inc. bought a new stake in shares of Cisco Systems during the 4th quarter valued at about $239,000. Apeiron RIA LLC boosted its position in Cisco Systems by 6.2% during the 4th quarter. Apeiron RIA LLC now owns 6,910 shares of the network equipment provider’s stock valued at $409,000 after acquiring an additional 405 shares in the last quarter. Secure Asset Management LLC grew its holdings in shares of Cisco Systems by 53.2% during the 4th quarter. Secure Asset Management LLC now owns 6,492 shares of the network equipment provider’s stock worth $384,000 after acquiring an additional 2,254 shares during the period. Red Door Wealth Management LLC grew its holdings in shares of Cisco Systems by 9.6% during the 4th quarter. Red Door Wealth Management LLC now owns 147,798 shares of the network equipment provider’s stock worth $8,750,000 after acquiring an additional 12,892 shares during the period. Finally, Donoghue Forlines LLC raised its position in shares of Cisco Systems by 157.3% in the 4th quarter. Donoghue Forlines LLC now owns 63,061 shares of the network equipment provider’s stock worth $3,733,000 after acquiring an additional 38,548 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the transaction, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the sale, the senior vice president now owns 50,767 shares of the company’s stock, valued at $2,979,515.23. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock worth $20,349,721 in the last quarter. Company insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CSCO. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Morgan Stanley upped their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, UBS Group upped their price target on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.50.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $62.23 on Friday. The firm has a market capitalization of $247.85 billion, a PE ratio of 26.71, a P/E/G ratio of 4.54 and a beta of 0.84. The company has a 50 day moving average price of $59.04 and a 200-day moving average price of $53.86. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $62.32. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. As a group, equities research analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.57%. Cisco Systems’s dividend payout ratio is currently 68.67%.

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.