Autumn Glory Partners LLC Sells 18,213 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Autumn Glory Partners LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 57.7% during the 4th quarter, HoldingsChannel reports. The firm owned 13,350 shares of the network equipment provider’s stock after selling 18,213 shares during the period. Autumn Glory Partners LLC’s holdings in Cisco Systems were worth $790,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Highline Wealth Partners LLC boosted its position in Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after buying an additional 260 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in Cisco Systems during the 3rd quarter worth approximately $40,000. Decker Retirement Planning Inc. acquired a new stake in Cisco Systems during the 4th quarter worth approximately $49,000. Capital Performance Advisors LLP acquired a new stake in Cisco Systems during the 3rd quarter worth approximately $51,000. Finally, FSA Wealth Management LLC acquired a new stake in Cisco Systems during the 3rd quarter worth approximately $56,000. 73.33% of the stock is owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 4,881 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total value of $291,542.13. Following the completion of the sale, the senior vice president now owns 51,931 shares in the company, valued at $3,101,838.63. This represents a 8.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kristina M. Johnson sold 7,500 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $59.87, for a total transaction of $449,025.00. Following the completion of the sale, the director now owns 65,915 shares of the company’s stock, valued at approximately $3,946,331.05. The trade was a 10.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,239 shares of company stock worth $2,166,612. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Stock Up 1.6 %

Cisco Systems stock opened at $64.87 on Friday. The company has a market capitalization of $258.36 billion, a PE ratio of 27.84, a PEG ratio of 4.63 and a beta of 0.84. The firm’s fifty day moving average is $59.97 and its 200 day moving average is $55.42. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems announced that its board has initiated a stock buyback program on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is 68.67%.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price on the stock in a research report on Tuesday, January 28th. Bank of America boosted their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Finally, The Goldman Sachs Group boosted their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.53.

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 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.