Kellett Wealth Advisors LLC Cuts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Kellett Wealth Advisors LLC decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,486 shares of the network equipment provider’s stock after selling 415 shares during the period. Kellett Wealth Advisors LLC’s holdings in Cisco Systems were worth $206,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. FPC Investment Advisory Inc. purchased a new stake in Cisco Systems in the fourth quarter worth approximately $26,000. Highline Wealth Partners LLC lifted its holdings in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after buying an additional 260 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in shares of Cisco Systems in the 3rd quarter worth $40,000. Decker Retirement Planning Inc. bought a new stake in shares of Cisco Systems in the fourth quarter worth $49,000. Finally, Capital Performance Advisors LLP purchased a new stake in Cisco Systems during the third quarter valued at $51,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

NASDAQ CSCO opened at $64.27 on Wednesday. The company has a market cap of $255.68 billion, a PE ratio of 28.07, a P/E/G ratio of 4.16 and a beta of 0.84. The firm’s 50 day moving average price is $60.87 and its 200-day moving average price is $56.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently disclosed 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 boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.55%. Cisco Systems’s dividend payout ratio (DPR) is presently 71.62%.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CSCO. Barclays raised their target price on Cisco Systems from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 13th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. The Goldman Sachs Group boosted their price objective on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research 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 given a strong buy rating to the company. According to MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and an average target price of $66.53.

Insider Buying and Selling

In other news, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the sale, the chief executive officer now directly owns 736,120 shares in the company, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 586 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the transaction, the senior vice president now directly owns 50,767 shares in the company, valued at approximately $2,979,515.23. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,848 shares of company stock worth $4,767,206 in the last ninety days. 0.01% of the stock is owned by insiders.

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.