Donoghue Forlines LLC Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Donoghue Forlines LLC lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 42.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,094 shares of the network equipment provider’s stock after selling 35,098 shares during the period. Cisco Systems makes up 0.5% of Donoghue Forlines LLC’s holdings, making the stock its 29th biggest position. Donoghue Forlines LLC’s holdings in Cisco Systems were worth $3,048,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Caldwell Investment Management Ltd. purchased a new position in shares of Cisco Systems during the fourth quarter worth $1,005,000. Prudential PLC increased its holdings in Cisco Systems by 30.6% in the fourth quarter. Prudential PLC now owns 352,993 shares of the network equipment provider’s stock valued at $22,369,000 after buying an additional 82,667 shares in the last quarter. Equitable Holdings Inc. increased its holdings in Cisco Systems by 2.6% in the fourth quarter. Equitable Holdings Inc. now owns 49,417 shares of the network equipment provider’s stock valued at $3,132,000 after buying an additional 1,257 shares in the last quarter. MYDA Advisors LLC purchased a new position in Cisco Systems in the fourth quarter valued at $1,521,000. Finally, Stonegate Investment Group LLC purchased a new position in Cisco Systems in the fourth quarter valued at $81,869,000. 73.18% of the stock is owned by hedge funds and other institutional investors.

In other news, SVP Prat Bhatt sold 3,623 shares of the stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $56.40, for a total value of $204,337.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Robbins sold 15,382 shares of the firm’s stock in a transaction dated Thursday, February 24th. The shares were sold at an average price of $53.86, for a total transaction of $828,474.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,605 shares of company stock valued at $1,121,147. 0.02% of the stock is owned by insiders.

A number of research firms have weighed in on CSCO. The Goldman Sachs Group cut shares of Cisco Systems from a “buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a report on Wednesday, January 19th. Morgan Stanley dropped their target price on shares of Cisco Systems from $61.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 12th. Citigroup lowered shares of Cisco Systems from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $65.00 to $45.00 in a research report on Tuesday, April 12th. JPMorgan Chase & Co. lowered their price target on shares of Cisco Systems from $70.00 to $69.00 in a research report on Thursday, January 20th. Finally, Cowen boosted their price target on shares of Cisco Systems from $61.00 to $66.00 in a research report on Thursday, February 17th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $62.44.

Shares of NASDAQ:CSCO traded up $1.71 during trading hours on Tuesday, reaching $50.71. The stock had a trading volume of 984,556 shares, compared to its average volume of 20,884,204. Cisco Systems, Inc. has a 1 year low of $47.47 and a 1 year high of $64.29. The firm’s 50 day moving average is $52.86 and its 200-day moving average is $55.93. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.34 and a current ratio of 1.42. The stock has a market capitalization of $210.66 billion, a price-to-earnings ratio of 17.88, a P/E/G ratio of 2.47 and a beta of 0.99.

Cisco Systems (NASDAQ:CSCOGet Rating) last issued its earnings results on Wednesday, February 16th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.04. Cisco Systems had a net margin of 22.94% and a return on equity of 30.95%. The business had revenue of $12.72 billion during the quarter, compared to analysts’ expectations of $12.67 billion. During the same quarter in the prior year, the business posted $0.71 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. Analysts forecast that Cisco Systems, Inc. will post 3.09 EPS for the current year.

Cisco Systems announced that its board has initiated a stock buyback program on Wednesday, February 16th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to purchase up to 6.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 27th. Investors of record on Wednesday, April 6th were paid a dividend of $0.38 per share. The ex-dividend date was Tuesday, April 5th. This represents a $1.52 dividend on an annualized basis and a yield of 3.00%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.37. Cisco Systems’s dividend payout ratio is currently 54.29%.

Cisco Systems Profile (Get Rating)

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

Further Reading

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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