Canal Capital Management LLC Has $1.10 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Canal Capital Management LLC reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,507 shares of the network equipment provider’s stock after selling 608 shares during the period. Canal Capital Management LLC’s holdings in Cisco Systems were worth $1,096,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CSCO. Pflug Koory LLC lifted its position in Cisco Systems by 0.5% during the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock worth $1,955,000 after acquiring an additional 165 shares during the last quarter. Glass Jacobson Investment Advisors llc increased its stake in shares of Cisco Systems by 8.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock worth $123,000 after purchasing an additional 166 shares during the period. Fairhaven Wealth Management LLC boosted its stake in Cisco Systems by 2.3% in the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock valued at $449,000 after purchasing an additional 167 shares during the period. BlackDiamond Wealth Management LLC grew its holdings in Cisco Systems by 3.1% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock valued at $335,000 after buying an additional 168 shares in the last quarter. Finally, Maple Capital Management Inc. increased its position in Cisco Systems by 1.4% during the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock worth $709,000 after buying an additional 170 shares during the period. 73.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Citigroup decreased their price target on shares of Cisco Systems from $73.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their target price for the stock from $66.00 to $73.00 in a report on Monday, January 6th. StockNews.com cut Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 5th. DZ Bank upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Finally, Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Seven 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.58.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total transaction of $46,474.38. Following the sale, the senior vice president now directly owns 44,155 shares in the company, valued at $2,693,013.45. The trade was a 1.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares in the company, valued at $11,604,868.80. This trade represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, 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 Down 0.1 %

CSCO opened at $55.73 on Monday. The firm has a market capitalization of $221.69 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 4.16 and a beta of 0.86. The company’s 50 day moving average price is $60.69 and its two-hundred day moving average price is $59.18. 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, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last announced its 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%. As a group, research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently announced 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. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s payout ratio is presently 71.62%.

Cisco Systems declared that its board has approved a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Cisco Systems 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.