Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 239,703 shares of the network equipment provider’s stock after selling 2,628 shares during the quarter. FineMark National Bank & Trust’s holdings in Cisco Systems were worth $14,190,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. FPC Investment Advisory Inc. acquired a new position in shares of Cisco Systems during the fourth quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. bought a new position in Cisco Systems during the 4th quarter valued at $30,000. Campbell Capital Management Inc. acquired a new position in shares of Cisco Systems during the 4th quarter valued at $31,000. Highline Wealth Partners LLC raised its stake 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 buying an additional 260 shares in the last quarter. Finally, Synergy Investment Management LLC acquired a new stake in shares of Cisco Systems in the fourth quarter valued at $36,000. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on CSCO shares. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Citigroup reissued an “overweight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. The Goldman Sachs Group upped their price target on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective for the company in a research note on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus target price of $66.63.

Cisco Systems Stock Up 1.1 %

Cisco Systems stock opened at $60.97 on Tuesday. The firm’s 50 day moving average price is $62.00 and its two-hundred day moving average price is $58.25. The firm has a market cap of $242.56 billion, a PE ratio of 26.62, a P/E/G ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. 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 (NASDAQ:CSCO) last posted its quarterly earnings results 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 return on equity of 26.08% and a net margin of 16.96%. On average, research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.69%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is currently 71.62%.

Cisco Systems declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 19,929 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $1,283,626.89. Following the completion of the sale, the chief financial officer now directly 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 document filed with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 31,983 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the transaction, the chief executive officer now directly owns 736,120 shares in the company, valued at $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,547 shares of company stock valued at $4,275,553. 0.01% of the stock is currently owned by corporate 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.