Kendall Capital Management Sells 5,051 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Kendall Capital Management lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 14.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,963 shares of the network equipment provider’s stock after selling 5,051 shares during the quarter. Kendall Capital Management’s holdings in Cisco Systems were worth $1,774,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. FPC Investment Advisory Inc. bought a new position in shares of Cisco Systems in the fourth quarter worth about $26,000. Highline Wealth Partners LLC increased its stake in shares of Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after buying an additional 260 shares during the period. Synergy Investment Management LLC acquired a new position in shares of Cisco Systems in the fourth quarter valued at approximately $36,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Cisco Systems in the third quarter valued at approximately $40,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Cisco Systems in the fourth quarter valued at approximately $49,000. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In other news, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction dated Friday, February 14th. The stock was 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 owns 736,120 shares in the company, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 586 shares of Cisco Systems stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the transaction, the senior vice president now directly owns 50,767 shares in the company, valued at $2,979,515.23. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,348 shares of company stock valued at $4,318,181. 0.01% of the stock is owned by insiders.

Cisco Systems Trading Up 0.8 %

Shares of Cisco Systems stock opened at $63.94 on Friday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The firm has a market cap of $254.37 billion, a PE ratio of 27.92, a P/E/G ratio of 4.16 and a beta of 0.79. The stock has a fifty day moving average price of $61.63 and a 200-day moving average price of $57.39. 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 (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 net margin of 16.96% and a return on equity of 26.08%. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is 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 is Thursday, April 3rd. This represents a $1.64 annualized dividend and a 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 (DPR) is 71.62%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CSCO. Wells Fargo & Company reissued an “equal weight” rating on shares of Cisco Systems in a research report on Thursday. Morgan Stanley increased their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. increased their price target on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.63.

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.