Accurate Wealth Management LLC Sells 1,210 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Accurate Wealth Management LLC lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,266 shares of the network equipment provider’s stock after selling 1,210 shares during the period. Accurate Wealth Management LLC’s holdings in Cisco Systems were worth $2,824,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Cisco Systems during the 4th quarter valued at about $3,297,905,000. FMR LLC increased its stake in shares of Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock valued at $4,571,218,000 after buying an additional 13,285,052 shares during the period. Raymond James Financial Inc. bought a new position in shares of Cisco Systems during the fourth quarter valued at approximately $560,722,000. Alyeska Investment Group L.P. purchased a new stake in Cisco Systems in the fourth quarter worth $413,491,000. Finally, GAMMA Investing LLC boosted its holdings in Cisco Systems by 7,096.5% in the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider’s stock valued at $414,593,000 after acquiring an additional 6,625,045 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CSCO shares. Wall Street Zen raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. UBS Group upped their price target on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Evercore ISI boosted their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Rosenblatt Securities increased their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Finally, Wells Fargo & Company upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 29,784 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer now directly owns 688,409 shares of the company’s stock, valued at approximately $44,478,105.49. This trade represents a 4.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. The trade was a 1.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,400 shares of company stock worth $4,564,439 in the last quarter. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Down 0.2%

CSCO stock opened at $65.90 on Tuesday. The stock has a market capitalization of $260.96 billion, a P/E ratio of 28.78, a P/E/G ratio of 4.16 and a beta of 0.88. 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, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The business has a fifty day moving average price of $59.69 and a 200-day moving average price of $60.43.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 earnings per share. Equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s payout ratio is currently 66.94%.

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

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.