Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Tacita Capital Inc

Tacita Capital Inc lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 23.1% during the fourth quarter, Holdings Channel reports. The fund owned 1,660 shares of the network equipment provider’s stock after selling 500 shares during the quarter. Tacita Capital Inc’s holdings in Cisco Systems were worth $98,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CSCO. Swedbank AB boosted its holdings in Cisco Systems by 0.6% during the third quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock worth $480,555,000 after buying an additional 52,711 shares in the last quarter. Chicago Partners Investment Group LLC boosted its holdings in Cisco Systems by 7.4% during the third quarter. Chicago Partners Investment Group LLC now owns 26,128 shares of the network equipment provider’s stock worth $1,471,000 after buying an additional 1,803 shares in the last quarter. Clear Creek Financial Management LLC boosted its holdings in Cisco Systems by 9.8% during the third quarter. Clear Creek Financial Management LLC now owns 7,772 shares of the network equipment provider’s stock worth $414,000 after buying an additional 695 shares in the last quarter. Pure Financial Advisors LLC boosted its holdings in Cisco Systems by 5.8% during the third quarter. Pure Financial Advisors LLC now owns 11,702 shares of the network equipment provider’s stock worth $623,000 after buying an additional 645 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in Cisco Systems by 0.5% during the third quarter. Harbor Capital Advisors Inc. now owns 46,809 shares of the network equipment provider’s stock worth $2,491,000 after buying an additional 226 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the sale, the chief executive officer now directly owns 736,120 shares in the company, valued at $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kristina M. Johnson sold 7,500 shares of Cisco Systems stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $59.87, for a total transaction of $449,025.00. Following the sale, the director now owns 65,915 shares of the company’s stock, valued at approximately $3,946,331.05. This represents a 10.22 % decrease in their ownership of the stock. 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.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CSCO. Morgan Stanley increased their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Tuesday, January 28th. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Citigroup increased their price objective on shares of Cisco Systems from $71.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, StockNews.com downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.63.

Cisco Systems Price Performance

Cisco Systems stock opened at $63.48 on Tuesday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The stock has a market cap of $252.54 billion, a P/E ratio of 27.72, a PEG ratio of 4.16 and a beta of 0.84. The company has a 50-day moving average price of $61.32 and a 200 day moving average price of $57.06. 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 released its quarterly earnings data 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%. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors 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 given a dividend of $0.41 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.58%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 71.62%.

Cisco Systems Company 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.