Yacktman Asset Management LP Sells 15,807 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Yacktman Asset Management LP cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,365,795 shares of the network equipment provider’s stock after selling 15,807 shares during the period. Yacktman Asset Management LP’s holdings in Cisco Systems were worth $69,000,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Kathleen S. Wright Associates Inc. bought a new position in shares of Cisco Systems during the third quarter worth approximately $27,000. Valued Wealth Advisors LLC acquired a new position in Cisco Systems in the 4th quarter valued at $32,000. Morton Brown Family Wealth LLC lifted its position in shares of Cisco Systems by 41.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 208 shares during the period. Bourgeon Capital Management LLC grew its holdings in shares of Cisco Systems by 3,500.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 700 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new position in shares of Cisco Systems in the fourth quarter worth $43,000. 73.33% of the stock is owned by institutional investors.

Insider Activity at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the transaction, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock worth $972,080 over the last quarter. Company insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CSCO. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. JPMorgan Chase & Co. assumed coverage on shares of Cisco Systems in a research note on Monday. They issued a “neutral” rating and a $53.00 price objective on the stock. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $55.00 to $60.00 in a research note on Monday, April 15th. Citigroup assumed coverage on Cisco Systems in a research note on Friday, April 12th. They issued a “neutral” rating and a $52.00 price target on the stock. Finally, Morgan Stanley initiated coverage on Cisco Systems in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price objective on the stock. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.53.

Cisco Systems Trading Down 0.3 %

NASDAQ:CSCO traded down $0.13 during trading hours on Friday, hitting $47.97. 7,555,026 shares of the company were exchanged, compared to its average volume of 19,260,926. The company has a fifty day simple moving average of $48.95 and a 200 day simple moving average of $50.11. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19. The stock has a market capitalization of $194.24 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 2.79 and a beta of 0.87. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm’s revenue was down 5.9% compared to the same quarter last year. During the same period last year, the company earned $0.76 earnings per share. Sell-side analysts expect that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Wednesday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio (DPR) is currently 48.63%.

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.