Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Pacific Global Investment Management Co.

Pacific Global Investment Management Co. reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 80.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,585 shares of the network equipment provider’s stock after selling 51,083 shares during the period. Pacific Global Investment Management Co.’s holdings in Cisco Systems were worth $745,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Swedbank AB boosted its position in Cisco Systems by 0.6% in the third quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock valued at $480,555,000 after buying an additional 52,711 shares during the last quarter. Principal Securities Inc. lifted its stake in Cisco Systems by 3.9% during the 3rd quarter. Principal Securities Inc. now owns 51,032 shares of the network equipment provider’s stock valued at $2,716,000 after acquiring an additional 1,907 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Cisco Systems by 8.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 69,954 shares of the network equipment provider’s stock valued at $3,723,000 after acquiring an additional 5,600 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of Cisco Systems by 7.4% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 26,128 shares of the network equipment provider’s stock valued at $1,471,000 after acquiring an additional 1,803 shares during the last quarter. Finally, F M Investments LLC increased its stake in shares of Cisco Systems by 0.4% in the third quarter. F M Investments LLC now owns 138,011 shares of the network equipment provider’s stock worth $7,332,000 after acquiring an additional 535 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Kristina M. Johnson sold 7,500 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the completion of the transaction, the director now directly owns 65,915 shares in the company, valued at approximately $3,946,331.05. This represents a 10.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 completion of the sale, the chief executive officer now owns 736,120 shares in the company, valued at $47,413,489.20. This represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,848 shares of company stock worth $4,767,206. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 0.5 %

CSCO stock opened at $64.14 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average of $61.23 and a two-hundred day moving average of $56.95. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The company has a market cap of $255.15 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 4.16 and a beta of 0.84.

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

Cisco Systems announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

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 dividend yield of 2.56%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is currently 71.62%.

Analysts Set New Price Targets

CSCO has been the topic of several recent research reports. Barclays upped their price target on shares of Cisco Systems from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Thursday, February 13th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the company from $66.00 to $73.00 in a report on Monday, January 6th. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Morgan Stanley lifted their price target on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, StockNews.com downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $66.63.

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.