Fingerlakes Wealth Management Inc. Sells 583 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Fingerlakes Wealth Management Inc. lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,911 shares of the network equipment provider’s stock after selling 583 shares during the quarter. Fingerlakes Wealth Management Inc.’s holdings in Cisco Systems were worth $291,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Private Advisor Group LLC increased its stake in shares of Cisco Systems by 0.6% during the 4th quarter. Private Advisor Group LLC now owns 366,454 shares of the network equipment provider’s stock worth $21,694,000 after purchasing an additional 2,254 shares during the last quarter. Werba Rubin Papier Wealth Management raised its stake in shares of Cisco Systems by 6.7% in the fourth quarter. Werba Rubin Papier Wealth Management now owns 9,803 shares of the network equipment provider’s stock valued at $580,000 after buying an additional 612 shares during the period. Global Retirement Partners LLC lifted its position in shares of Cisco Systems by 4.0% during the 4th quarter. Global Retirement Partners LLC now owns 82,244 shares of the network equipment provider’s stock valued at $4,869,000 after buying an additional 3,194 shares during the last quarter. WestHill Financial Advisors Inc. grew its stake in shares of Cisco Systems by 9.0% during the 4th quarter. WestHill Financial Advisors Inc. now owns 4,553 shares of the network equipment provider’s stock worth $270,000 after acquiring an additional 375 shares during the period. Finally, Atlas Legacy Advisors LLC purchased a new stake in Cisco Systems in the 4th quarter worth about $325,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 0.4 %

CSCO opened at $64.84 on Thursday. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The business’s fifty day simple moving average is $60.43 and its 200 day simple moving average is $55.95. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The stock has a market cap of $258.24 billion, a PE ratio of 28.31, a P/E/G ratio of 4.55 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released its 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%. As a group, research analysts expect that Cisco Systems, Inc. will post 3.01 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.53%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is currently 69.87%.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CSCO. Rosenblatt Securities upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their target price for the stock from $66.00 to $80.00 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 note on Monday, January 6th. Citigroup boosted their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and raised their price target for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Finally, StockNews.com upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average price target of $66.53.

Insider Buying and Selling

In related 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 value of $2,060,025.03. Following the transaction, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the sale, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at $2,979,515.23. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,921 shares of company stock worth $4,298,667 in the last 90 days. 0.01% of the stock is owned by company 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.