Pinnacle Wealth Planning Services Inc. Trims Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Pinnacle Wealth Planning Services Inc. cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 15.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,139 shares of the network equipment provider’s stock after selling 3,053 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Cisco Systems were worth $1,015,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in Cisco Systems in the fourth quarter worth $560,722,000. FMR LLC boosted its holdings in Cisco Systems by 10.1% in the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after acquiring an additional 5,885,879 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Cisco Systems by 327.5% during the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock valued at $362,907,000 after buying an additional 5,223,800 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Cisco Systems by 79.6% during the third quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock valued at $477,463,000 after buying an additional 3,975,028 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Cisco Systems by 1.7% during the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after buying an additional 3,241,682 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. StockNews.com cut Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Barclays raised their target price on Cisco Systems from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 13th. UBS Group raised their target price on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Rosenblatt Securities raised Cisco Systems from a “neutral” rating to a “buy” rating and raised their target price for the stock from $66.00 to $80.00 in a research report on Thursday, February 13th. Finally, Citigroup raised their target price on Cisco Systems from $71.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Seven 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.63.

Cisco Systems Stock Up 1.1 %

Shares of CSCO opened at $63.96 on Thursday. The business’s 50 day moving average is $61.47 and its 200 day moving average is $57.20. The company has a market capitalization of $254.45 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. 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 analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

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

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

Insiders Place Their Bets

In other news, EVP Deborah L. Stahlkopf sold 11,808 shares of Cisco Systems stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $64.37, for a total value of $760,080.96. Following the completion of the transaction, the executive vice president now owns 200,191 shares in the company, valued at approximately $12,886,294.67. The trade was a 5.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 31,983 shares of Cisco Systems 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 completion of the transaction, the chief executive officer now owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,848 shares of company stock valued at $4,767,206 in the last quarter. 0.01% of the stock is currently owned by insiders.

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.