Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 306,000 shares of the network equipment provider’s stock after selling 19,230 shares during the period. Intact Investment Management Inc.’s holdings in Cisco Systems were worth $18,115,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new stake in Cisco Systems during the fourth quarter worth approximately $26,000. Highline Wealth Partners LLC boosted its holdings in Cisco Systems by 76.7% during 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 in the last quarter. Synergy Investment Management LLC bought a new stake in Cisco Systems during the fourth quarter worth approximately $36,000. RPg Family Wealth Advisory LLC acquired a new position in Cisco Systems in the 3rd quarter worth approximately $40,000. Finally, Decker Retirement Planning Inc. acquired a new position in Cisco Systems in the 4th quarter worth approximately $49,000. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares in the company, valued at $11,604,868.80. This trade represents a 1.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the transaction, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. This trade represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,547 shares of company stock worth $4,275,553 in the last quarter. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Stock Down 1.3 %

Cisco Systems stock opened at $59.67 on Friday. The company has a market capitalization of $237.38 billion, a P/E ratio of 26.06, a P/E/G ratio of 4.16 and a beta of 0.79. The firm’s fifty day simple moving average is $61.75 and its 200-day simple moving average is $57.63. 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 1-year low of $44.50 and a 1-year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share 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%. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its board has initiated a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board 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. Investors of record on Thursday, April 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.75%. The ex-dividend date is Thursday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is 71.62%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Bank of America raised their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. The Goldman Sachs Group raised their price objective on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. StockNews.com lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 5th. Rosenblatt Securities raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $66.00 to $80.00 in a research note on Thursday, February 13th. Finally, Citigroup reaffirmed an “overweight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average target price of $66.63.

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.