Wendell David Associates Inc. Has $3.18 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Wendell David Associates Inc. cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 53,718 shares of the network equipment provider’s stock after selling 200 shares during the quarter. Wendell David Associates Inc.’s holdings in Cisco Systems were worth $3,180,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Public Sector Pension Investment Board grew its holdings in shares of Cisco Systems by 72.0% during the second quarter. Public Sector Pension Investment Board now owns 155,624 shares of the network equipment provider’s stock worth $7,394,000 after purchasing an additional 65,124 shares during the last quarter. Sfmg LLC grew its holdings in Cisco Systems by 1.6% during the 2nd quarter. Sfmg LLC now owns 111,785 shares of the network equipment provider’s stock worth $5,311,000 after acquiring an additional 1,756 shares during the last quarter. Fred Alger Management LLC increased its position in Cisco Systems by 5.8% in the 2nd quarter. Fred Alger Management LLC now owns 100,310 shares of the network equipment provider’s stock valued at $4,766,000 after acquiring an additional 5,471 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Cisco Systems during the second quarter valued at $2,269,000. Finally, Alley Investment Management Company LLC lifted its holdings in shares of Cisco Systems by 1.3% during the second quarter. Alley Investment Management Company LLC now owns 102,293 shares of the network equipment provider’s stock worth $4,860,000 after purchasing an additional 1,290 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the subject of a number of recent research reports. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Bank of America upped their target price on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the company from $66.00 to $73.00 in a report on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.50.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $4,964,318.99. Following the sale, the chief financial officer now directly owns 365,314 shares of the company’s stock, valued at approximately $21,001,901.86. This represents a 19.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 353,522 shares of company stock valued at $20,349,721. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 1.0 %

CSCO stock opened at $61.63 on Thursday. The stock has a market cap of $245.46 billion, a P/E ratio of 26.45, a P/E/G ratio of 4.54 and a beta of 0.84. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The stock’s fifty day simple moving average is $58.99 and its two-hundred day simple moving average is $53.81. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $61.76.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same period in the previous year, the firm earned $0.98 EPS. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. Analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.60%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

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.