Biltmore Family Office LLC Cuts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Biltmore Family Office LLC reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,392 shares of the network equipment provider’s stock after selling 234 shares during the period. Biltmore Family Office LLC’s holdings in Cisco Systems were worth $1,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new stake in shares of Cisco Systems during the 4th quarter worth about $26,000. Runnymede Capital Advisors Inc. purchased a new position in Cisco Systems during the fourth quarter worth approximately $30,000. Campbell Capital Management Inc. acquired a new stake in Cisco Systems in the fourth quarter valued at approximately $31,000. Highline Wealth Partners LLC grew its holdings in Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares during the period. Finally, Synergy Investment Management LLC acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $36,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the transaction, the senior vice president now owns 44,155 shares of the company’s stock, valued at $2,693,013.45. This represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction dated 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 sale, the chief executive officer now owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. This represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CSCO. JPMorgan Chase & Co. increased their target price on Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Citigroup restated an “overweight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, The Goldman Sachs Group increased their target price on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.63.

Cisco Systems Price Performance

Shares of CSCO stock opened at $61.82 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The company has a market capitalization of $245.94 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. The firm’s 50-day moving average is $62.16 and its two-hundred day moving average is $58.79. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems declared that its board has approved a share repurchase program on Wednesday, February 12th 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% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Thursday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is 71.62%.

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.