Edgemoor Investment Advisors Inc. Sells 200 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Edgemoor Investment Advisors Inc. trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 9,734 shares of the network equipment provider’s stock after selling 200 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in Cisco Systems were worth $576,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Swedbank AB lifted its position in shares of Cisco Systems by 0.6% during the 3rd quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock worth $480,555,000 after buying an additional 52,711 shares during the last quarter. Seizert Capital Partners LLC lifted its position in shares of Cisco Systems by 2.4% during the 3rd quarter. Seizert Capital Partners LLC now owns 1,071,153 shares of the network equipment provider’s stock worth $57,007,000 after buying an additional 24,841 shares during the last quarter. Spinnaker Investment Group LLC lifted its position in shares of Cisco Systems by 15.1% during the 3rd quarter. Spinnaker Investment Group LLC now owns 6,742 shares of the network equipment provider’s stock worth $359,000 after buying an additional 882 shares during the last quarter. Sawgrass Asset Management LLC lifted its position in shares of Cisco Systems by 5.6% during the 3rd quarter. Sawgrass Asset Management LLC now owns 314,916 shares of the network equipment provider’s stock worth $16,760,000 after buying an additional 16,761 shares during the last quarter. Finally, Peterson Financial Group Inc. bought a new stake in shares of Cisco Systems during the 3rd quarter worth $140,000. 73.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cisco Systems news, CFO Richard Scott Herren sold 19,929 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $1,283,626.89. Following the transaction, the chief financial officer now owns 335,605 shares in the company, valued at approximately $21,616,318.05. This represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, the chief executive officer now owns 736,120 shares in the company, 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 quarter, insiders have sold 66,547 shares of company stock worth $4,275,553. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 1.4 %

NASDAQ CSCO opened at $60.50 on Monday. The business has a 50 day simple moving average of $61.79 and a 200 day simple moving average of $57.80. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The stock has a market capitalization of $240.69 billion, a P/E ratio of 26.42, a P/E/G ratio of 4.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems declared that its board has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be issued a $0.41 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 annualized dividend and a yield of 2.71%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is presently 71.62%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CSCO. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Citigroup reaffirmed an “overweight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Rosenblatt Securities raised Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $66.00 to $80.00 in a report on Thursday, February 13th. Finally, DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.63.

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.