Tacita Capital Inc Cuts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Tacita Capital Inc trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 23.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,660 shares of the network equipment provider’s stock after selling 500 shares during the period. Tacita Capital Inc’s holdings in Cisco Systems were worth $98,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. FMR LLC grew its stake in shares of Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after buying an additional 5,885,879 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of Cisco Systems by 327.5% in the 3rd quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock worth $362,907,000 after buying an additional 5,223,800 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Cisco Systems by 79.6% in the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock worth $477,463,000 after buying an additional 3,975,028 shares in the last quarter. State Street Corp grew its stake in shares of Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after buying an additional 3,241,682 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Cisco Systems by 87.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,541,607 shares of the network equipment provider’s stock worth $294,923,000 after acquiring an additional 2,591,684 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. The Goldman Sachs Group raised their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Morgan Stanley raised their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Bank of America raised their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.63.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 3,042 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $59.19, for a total transaction of $180,055.98. Following the transaction, the executive vice president now owns 207,798 shares in the company, valued at approximately $12,299,563.62. This represents a 1.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 31,983 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the transaction, the chief executive officer now owns 736,120 shares in the company, valued at $47,413,489.20. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,848 shares of company stock valued at $4,767,206 in the last 90 days. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Down 1.0 %

Shares of Cisco Systems stock opened at $63.48 on Tuesday. The firm’s 50 day moving average price is $61.32 and its 200-day moving average price is $57.06. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The company has a market cap of $252.54 billion, a P/E ratio of 27.72, a PEG ratio of 4.16 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. On average, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a $0.41 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.58%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s payout ratio is presently 71.62%.

Cisco Systems declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.