Allen Wealth Management LLC Has $3.23 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Allen Wealth Management LLC cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.0% during the 4th quarter, Holdings Channel reports. The firm owned 54,526 shares of the network equipment provider’s stock after selling 1,675 shares during the period. Cisco Systems comprises 2.3% of Allen Wealth Management LLC’s investment portfolio, making the stock its 7th largest position. Allen Wealth Management LLC’s holdings in Cisco Systems were worth $3,228,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FPC Investment Advisory Inc. bought a new stake in Cisco Systems during the fourth quarter worth approximately $26,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Cisco Systems during the 4th quarter valued at $30,000. Campbell Capital Management Inc. bought a new stake in shares of Cisco Systems during the 4th quarter worth $31,000. Highline Wealth Partners LLC grew its holdings in shares of 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 acquiring an additional 260 shares during the last quarter. Finally, Synergy Investment Management LLC acquired a new stake in shares of Cisco Systems during the fourth quarter worth $36,000. Institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the transaction, the senior vice president now directly owns 44,155 shares in the company, valued at approximately $2,693,013.45. The trade was a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the sale, the chief executive officer now owns 736,120 shares of the company’s stock, 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 three months, insiders sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is owned by insiders.

Cisco Systems Stock Up 0.0 %

CSCO stock opened at $61.82 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm has a market cap of $245.94 billion, a PE ratio of 27.00, a PEG ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The company has a fifty day simple moving average of $62.16 and a 200 day simple moving average of $58.79.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (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%. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its board has initiated a stock repurchase program 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 purchase up to 6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a $0.41 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.65%. Cisco Systems’s dividend payout ratio (DPR) is currently 71.62%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. UBS Group boosted their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Citigroup reaffirmed an “overweight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.63.

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.