Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Coastal Bridge Advisors LLC

Coastal Bridge Advisors LLC reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,995 shares of the network equipment provider’s stock after selling 1,009 shares during the period. Coastal Bridge Advisors LLC’s holdings in Cisco Systems were worth $592,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. FPC Investment Advisory Inc. bought a new stake in Cisco Systems during the fourth quarter worth about $26,000. Navigoe LLC bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $26,000. Runnymede Capital Advisors Inc. acquired a new position in shares of Cisco Systems in the 4th quarter valued at approximately $30,000. Campbell Capital Management Inc. bought a new stake in Cisco Systems in the 4th quarter valued at approximately $31,000. Finally, Highline Wealth Partners LLC lifted its stake in shares of Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after buying an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CSCO shares. UBS Group boosted their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. cut their target price on shares of Cisco Systems from $73.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.05.

Insiders Place Their Bets

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. The trade was a 1.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 19,929 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $1,283,626.89. Following the completion of the transaction, the chief financial officer now directly owns 335,605 shares of the company’s stock, valued at $21,616,318.05. The trade was a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,547 shares of company stock worth $4,275,553 in the last three months. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 0.6 %

Shares of NASDAQ:CSCO opened at $59.55 on Thursday. 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 $236.91 billion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. The stock has a 50 day moving average of $58.92 and a 200 day moving average of $59.38. 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 net margin of 16.96% and a return on equity of 26.08%. As a group, equities research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd were given a dividend of $0.41 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.75%. Cisco Systems’s payout ratio is 71.62%.

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

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.