First Command Financial Services Inc. lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 19.7% during the fourth quarter, Holdings Channel reports. The fund owned 16,622 shares of the network equipment provider’s stock after selling 4,080 shares during the period. First Command Financial Services Inc.’s holdings in Cisco Systems were worth $720,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Horan Securities Inc. grew its stake in shares of Cisco Systems by 663.0% during the fourth quarter. Horan Securities Inc. now owns 763 shares of the network equipment provider’s stock valued at $33,000 after buying an additional 663 shares during the last quarter. Contravisory Investment Management Inc. bought a new stake in shares of Cisco Systems in the fourth quarter worth about $49,000. Highwater Wealth Management LLC bought a new stake in shares of Cisco Systems in the fourth quarter worth about $51,000. Acropolis Investment Management LLC bought a new stake in shares of Cisco Systems in the fourth quarter worth about $101,000. Finally, Camarda Financial Advisors LLC grew its stake in shares of Cisco Systems by 546.3% in the third quarter. Camarda Financial Advisors LLC now owns 2,585 shares of the network equipment provider’s stock worth $126,000 after purchasing an additional 2,185 shares during the last quarter. 69.14% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Roderick C. Mcgeary sold 15,000 shares of Cisco Systems stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $49.66, for a total transaction of $744,900.00. Following the completion of the transaction, the director now directly owns 102,898 shares in the company, valued at $5,109,914.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $51.70, for a total transaction of $3,619,000.00. Following the transaction, the chief financial officer now owns 420,696 shares of the company’s stock, valued at $21,749,983.20. The disclosure for this sale can be found here. Insiders sold 115,000 shares of company stock valued at $5,926,000 over the last 90 days. 0.03% of the stock is currently owned by company insiders.
Several research firms recently issued reports on CSCO. Morgan Stanley cut Cisco Systems from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $51.00 to $49.00 in a research note on Tuesday, February 12th. Wells Fargo & Co reissued an “outperform” rating and issued a $57.00 target price (up from $52.00) on shares of Cisco Systems in a research note on Wednesday, February 13th. MKM Partners raised their target price on Cisco Systems to $54.00 and gave the stock a “neutral” rating in a research note on Thursday, February 14th. Argus reissued a “buy” rating and issued a $55.00 target price on shares of Cisco Systems in a research note on Tuesday, January 15th. Finally, KeyCorp raised their target price on Cisco Systems from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, February 14th. Six analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $54.09.
Shares of CSCO opened at $56.34 on Tuesday. The company has a quick ratio of 1.74, a current ratio of 1.80 and a debt-to-equity ratio of 0.39. Cisco Systems, Inc. has a one year low of $40.25 and a one year high of $57.53. The stock has a market capitalization of $271.52 billion, a price-to-earnings ratio of 24.08, a P/E/G ratio of 2.93 and a beta of 1.22.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 13th. The network equipment provider reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.01. Cisco Systems had a net margin of 25.31% and a return on equity of 27.58%. The business had revenue of $12.45 billion during the quarter, compared to analyst estimates of $12.43 billion. During the same period last year, the business posted $0.63 earnings per share. Cisco Systems’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts predict that Cisco Systems, Inc. will post 2.75 EPS for the current fiscal year.
Cisco Systems declared that its board has initiated a stock buyback plan on Wednesday, February 13th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to purchase up to 6.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Friday, April 5th will be issued a $0.35 dividend. The ex-dividend date is Thursday, April 4th. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 2.48%. Cisco Systems’s dividend payout ratio (DPR) is 59.83%.
ILLEGAL ACTIVITY NOTICE: “Cisco Systems, Inc. (CSCO) Shares Sold by First Command Financial Services Inc.” was originally reported by Highlight Press and is the property of of Highlight Press. If you are viewing this article on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright laws. The legal version of this article can be accessed at https://highlightpress.com/2019/04/23/cisco-systems-inc-csco-shares-sold-by-first-command-financial-services-inc.html.
About Cisco Systems
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
Further Reading: How to Invest in Growth Stocks
Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO).
Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.