Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by High Note Wealth LLC

High Note Wealth LLC trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 59,695 shares of the network equipment provider’s stock after selling 2,383 shares during the quarter. Cisco Systems comprises approximately 1.1% of High Note Wealth LLC’s investment portfolio, making the stock its 26th biggest holding. High Note Wealth LLC’s holdings in Cisco Systems were worth $3,016,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. United Bank acquired a new stake in shares of Cisco Systems during the 1st quarter valued at $645,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Cisco Systems by 32.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,243,073 shares of the network equipment provider’s stock valued at $236,593,000 after purchasing an additional 1,040,607 shares during the period. Roundview Capital LLC raised its stake in Cisco Systems by 13.1% during the 1st quarter. Roundview Capital LLC now owns 10,540 shares of the network equipment provider’s stock valued at $588,000 after purchasing an additional 1,221 shares during the period. Merit Financial Group LLC raised its stake in Cisco Systems by 21.5% during the 1st quarter. Merit Financial Group LLC now owns 11,763 shares of the network equipment provider’s stock valued at $656,000 after purchasing an additional 2,079 shares during the period. Finally, Mackenzie Financial Corp raised its stake in Cisco Systems by 8.1% during the 1st quarter. Mackenzie Financial Corp now owns 2,429,518 shares of the network equipment provider’s stock valued at $135,470,000 after purchasing an additional 182,857 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares in the company, valued at approximately $9,579,865.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $697,100.00. Following the sale, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were 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 directly owns 191,559 shares in the company, valued at $9,579,865.59. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,441 shares of company stock worth $972,080. Insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the topic of a number of research reports. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. UBS Group increased their target price on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Wells Fargo & Company started coverage on shares of Cisco Systems in a research report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 target price on the stock. Melius cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Melius Research restated a “hold” rating and set a $55.00 price target on shares of Cisco Systems in a report on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Hold” and a consensus target price of $56.42.

Cisco Systems Trading Up 0.4 %

Shares of NASDAQ CSCO opened at $49.77 on Thursday. The company’s fifty day moving average is $49.78 and its 200-day moving average is $50.94. The stock has a market cap of $201.53 billion, a price-to-earnings ratio of 15.13, a P/E/G ratio of 2.24 and a beta of 0.87. Cisco Systems, Inc. has a twelve month low of $45.56 and a twelve month high of $58.19. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period last year, the firm posted $0.76 earnings per share. Equities research analysts predict that Cisco Systems, Inc. will post 3.16 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be paid a $0.40 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Wednesday, April 3rd. Cisco Systems’s payout ratio is presently 47.42%.

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.