Cornerstone Wealth Management LLC Trims Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Cornerstone Wealth Management LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,397 shares of the network equipment provider’s stock after selling 513 shares during the period. Cornerstone Wealth Management LLC’s holdings in Cisco Systems were worth $2,510,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Quarry LP increased its holdings in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares in the last quarter. West Financial Advisors LLC lifted its stake in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 309 shares in the last quarter. Highline Wealth Partners LLC boosted its holdings in Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after buying an additional 260 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in Cisco Systems in the 3rd quarter worth $40,000. Finally, Decker Retirement Planning Inc. bought a new stake in Cisco Systems during the fourth quarter valued at about $49,000. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the subject of a number of recent analyst reports. UBS Group upped their price objective on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Citigroup lifted their price objective on shares of Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, January 17th. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Morgan Stanley lifted their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus price target of $61.50.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 4,881 shares of Cisco Systems stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the completion of the sale, the senior vice president now owns 51,931 shares in the company, valued at $3,101,838.63. This trade represents a 8.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $59.19, for a total transaction of $180,055.98. Following the completion of the sale, the executive vice president now directly owns 207,798 shares of the company’s stock, valued at approximately $12,299,563.62. This trade represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock worth $20,349,721 in the last quarter. 0.01% of the stock is owned by company insiders.

Cisco Systems Stock Up 1.0 %

NASDAQ CSCO opened at $62.23 on Friday. 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, Inc. has a 52 week low of $44.50 and a 52 week high of $62.32. The firm has a market capitalization of $247.85 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 4.54 and a beta of 0.84. The company has a fifty day moving average of $59.04 and a two-hundred day moving average of $53.86.

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

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Friday, January 3rd. 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.