Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Arnhold LLC

Arnhold LLC reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 399,359 shares of the network equipment provider's stock after selling 32,151 shares during the period. Cisco Systems makes up about 2.3% of Arnhold LLC's investment portfolio, making the stock its 11th largest position. Arnhold LLC's holdings in Cisco Systems were worth $23,642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CSCO. Mainstream Capital Management LLC bought a new position in Cisco Systems during the fourth quarter worth about $132,000. GAMMA Investing LLC increased its holdings in shares of Cisco Systems by 13.1% during the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider's stock worth $5,527,000 after buying an additional 10,813 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Cisco Systems by 76.4% during the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock valued at $1,003,000 after acquiring an additional 7,338 shares in the last quarter. Oddo BHF Asset Management Sas bought a new position in shares of Cisco Systems during the third quarter valued at $502,000. Finally, Nordea Investment Management AB raised its position in shares of Cisco Systems by 1.2% during the fourth quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider's stock worth $1,107,930,000 after acquiring an additional 216,632 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CSCO. The Goldman Sachs Group raised their target price on Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Citigroup reduced their target price on Cisco Systems from $73.00 to $68.00 and set a "buy" rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. dropped their price target on Cisco Systems from $73.00 to $70.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. DZ Bank raised Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company restated an "equal weight" rating on shares of Cisco Systems in a report on Thursday, March 6th. Seven 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.05.

Insiders Place Their Bets

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the sale, the executive vice president now owns 191,184 shares in the company, valued at approximately $11,604,868.80. The trade was a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 31,983 shares of the business'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 transaction of $2,060,025.03. Following 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 66,547 shares of company stock worth $4,275,553 in the last 90 days. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Performance

NASDAQ:CSCO traded up $0.64 during mid-day trading on Tuesday, hitting $57.48. 4,259,125 shares of the company traded hands, compared to its average volume of 20,178,179. The stock's fifty day moving average price is $59.67 and its 200-day moving average price is $59.29. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The firm has a market cap of $228.66 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 4.16 and a beta of 0.86.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate 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 anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.85%. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's dividend payout ratio (DPR) is currently 71.62%.

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

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.