Northcape Wealth Management LLC Sells 2,211 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Northcape Wealth Management LLC trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 60,921 shares of the network equipment provider’s stock after selling 2,211 shares during the quarter. Cisco Systems comprises 1.1% of Northcape Wealth Management LLC’s holdings, making the stock its 26th biggest holding. Northcape Wealth Management LLC’s holdings in Cisco Systems were worth $3,078,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CSCO. Kathleen S. Wright Associates Inc. purchased a new stake in Cisco Systems during the 3rd quarter worth about $27,000. Valued Wealth Advisors LLC purchased a new stake in shares of Cisco Systems in the fourth quarter worth about $32,000. Morton Brown Family Wealth LLC boosted its position in shares of Cisco Systems by 41.9% in the fourth 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 stake in Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 700 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new stake in Cisco Systems during the 4th quarter worth approximately $43,000. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CSCO. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft raised their price target on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. Melius lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Barclays lifted their price objective on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. Finally, Melius Research reissued a “hold” rating and issued a $55.00 target price on shares of Cisco Systems in a research note on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.53.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at approximately $2,906,050. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,441 shares of company stock worth $972,080. Insiders own 0.02% of the company’s stock.

Cisco Systems Stock Down 1.7 %

Shares of CSCO traded down $0.80 on Tuesday, hitting $46.98. 18,531,437 shares of the stock traded hands, compared to its average volume of 19,243,893. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19. The business has a 50 day simple moving average of $48.92 and a 200 day simple moving average of $49.97. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The company has a market capitalization of $190.23 billion, a PE ratio of 14.52, a P/E/G ratio of 2.76 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate 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%. Cisco Systems’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period last year, the company earned $0.76 EPS. As a group, equities analysts forecast that Cisco Systems, Inc. will post 3.13 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $1.60 annualized dividend and a yield of 3.41%. This is a boost 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.