Glenview Trust co Trims Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Glenview Trust co reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 467,047 shares of the network equipment provider’s stock after selling 4,029 shares during the period. Glenview Trust co’s holdings in Cisco Systems were worth $27,649,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Facet Wealth Inc. increased its stake in Cisco Systems by 6.1% in the fourth quarter. Facet Wealth Inc. now owns 3,926 shares of the network equipment provider’s stock valued at $244,000 after purchasing an additional 227 shares during the last quarter. Harbour Investments Inc. increased its stake in shares of Cisco Systems by 3.1% during the 4th quarter. Harbour Investments Inc. now owns 49,491 shares of the network equipment provider’s stock valued at $2,930,000 after acquiring an additional 1,506 shares during the last quarter. Gitterman Wealth Management LLC purchased a new position in shares of Cisco Systems during the 4th quarter worth about $204,000. Greenwich Wealth Management LLC boosted its position in shares of Cisco Systems by 0.9% in the fourth quarter. Greenwich Wealth Management LLC now owns 89,125 shares of the network equipment provider’s stock worth $5,276,000 after acquiring an additional 772 shares during the last quarter. Finally, Intrepid Financial Planning Group LLC purchased a new stake in Cisco Systems in the fourth quarter valued at approximately $203,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction on 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 owns 736,120 shares in the company, valued at $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard Scott Herren sold 19,929 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the completion of the transaction, the chief financial officer now owns 335,605 shares in the company, valued at approximately $21,616,318.05. The trade was a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target for the company in a research report on Tuesday, January 28th. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Finally, UBS Group lifted their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.63.

Cisco Systems Stock Up 1.4 %

CSCO stock opened at $60.50 on Friday. The company has a market capitalization of $240.69 billion, a P/E ratio of 26.42, a PEG ratio of 4.16 and a beta of 0.79. The firm has a 50 day simple moving average of $61.79 and a 200-day simple moving average of $57.75. 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, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. On average, equities research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems announced that its Board of Directors has initiated a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a $0.41 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.71%. Cisco Systems’s dividend payout ratio (DPR) is presently 71.62%.

Cisco Systems 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.