Altrius Capital Management Inc Reduces Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Altrius Capital Management Inc lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 94,828 shares of the network equipment provider’s stock after selling 1,777 shares during the period. Cisco Systems makes up about 1.5% of Altrius Capital Management Inc’s holdings, making the stock its 27th biggest position. Altrius Capital Management Inc’s holdings in Cisco Systems were worth $5,614,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Swedbank AB increased its position in Cisco Systems by 0.6% during the 3rd quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock valued at $480,555,000 after purchasing an additional 52,711 shares during the period. JFS Wealth Advisors LLC lifted its position in shares of Cisco Systems by 150.3% during the 3rd quarter. JFS Wealth Advisors LLC now owns 19,872 shares of the network equipment provider’s stock valued at $1,058,000 after buying an additional 11,934 shares in the last quarter. Seaside Wealth Management Inc. purchased a new position in shares of Cisco Systems during the 3rd quarter valued at $215,000. Oak Harvest Investment Services lifted its holdings in Cisco Systems by 3.3% in the 3rd quarter. Oak Harvest Investment Services now owns 125,345 shares of the network equipment provider’s stock worth $6,671,000 after purchasing an additional 3,992 shares in the last quarter. Finally, Cornerstone Wealth Group LLC boosted its stake in Cisco Systems by 5.5% during the third quarter. Cornerstone Wealth Group LLC now owns 8,451 shares of the network equipment provider’s stock valued at $450,000 after buying an additional 442 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Bank of America raised their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Citigroup lifted their price target on Cisco Systems from $71.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. boosted their target price on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Seven equities research 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 stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and an average target price of $66.63.

Cisco Systems Trading Down 0.4 %

NASDAQ CSCO opened at $63.81 on Friday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The firm has a market capitalization of $253.85 billion, a P/E ratio of 27.86, a PEG ratio of 4.16 and a beta of 0.84. The business has a fifty day simple moving average of $61.12 and a 200 day simple moving average of $56.66. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced 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%. On average, analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Thursday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is 71.62%.

Cisco Systems declared that its Board of Directors has authorized a share repurchase plan 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 repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other Cisco Systems news, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the transaction, the senior vice president now directly owns 50,767 shares in the company, valued at $2,979,515.23. This represents a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 11,808 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $64.37, for a total value of $760,080.96. Following the completion of the transaction, the executive vice president now directly owns 200,191 shares of the company’s stock, valued at approximately $12,886,294.67. The trade was a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 74,848 shares of company stock valued at $4,767,206 in the last ninety days. 0.01% of the stock is currently 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.