Modera Wealth Management LLC Sells 4,535 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Modera Wealth Management LLC trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 848,590 shares of the network equipment provider’s stock after selling 4,535 shares during the quarter. Modera Wealth Management LLC’s holdings in Cisco Systems were worth $50,237,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CSCO. FPC Investment Advisory Inc. bought a new stake in Cisco Systems in the fourth quarter worth $26,000. Highline Wealth Partners LLC lifted its position in Cisco Systems by 76.7% in the fourth 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. RPg Family Wealth Advisory LLC bought a new stake in Cisco Systems in the third quarter worth $40,000. Decker Retirement Planning Inc. bought a new stake in Cisco Systems in the fourth quarter worth $49,000. Finally, Capital Performance Advisors LLP bought a new stake in Cisco Systems in the third quarter worth $51,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Price Performance

CSCO stock opened at $64.14 on Friday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The stock has a 50-day moving average price of $61.23 and a two-hundred day moving average price of $56.87. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a market cap of $255.15 billion, a PE ratio of 28.01, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 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%. As a group, research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.56%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems’s dividend payout ratio is presently 71.62%.

Cisco Systems declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CSCO. Bank of America increased their target price on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Rosenblatt Securities raised Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $66.00 to $80.00 in a report on Thursday, February 13th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Citigroup boosted their price target on Cisco Systems from $71.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, The Goldman Sachs Group boosted their price objective on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Seven equities research 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $66.63.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 31,983 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the sale, the chief executive officer now directly owns 736,120 shares in the company, valued at $47,413,489.20. This trade represents a 4.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 19,929 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $1,283,626.89. Following the completion of the sale, the chief financial officer now owns 335,605 shares in the company, valued at approximately $21,616,318.05. This represents 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 have sold 74,848 shares of company stock worth $4,767,206. 0.01% of the stock is currently owned by company insiders.

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.