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

Lindbrook Capital LLC trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 30,528 shares of the network equipment provider’s stock after selling 672 shares during the quarter. Lindbrook Capital LLC’s holdings in Cisco Systems were worth $1,807,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Swedbank AB raised its stake in Cisco Systems by 0.6% in the 3rd quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock valued at $480,555,000 after acquiring an additional 52,711 shares during the period. United Advisor Group LLC bought a new stake in Cisco Systems in the 3rd quarter valued at about $528,000. Hanlon Investment Management Inc. bought a new stake in Cisco Systems in the 3rd quarter valued at about $226,000. Long Run Wealth Advisors LLC raised its stake in Cisco Systems by 7.2% in the 3rd quarter. Long Run Wealth Advisors LLC now owns 33,559 shares of the network equipment provider’s stock valued at $1,786,000 after acquiring an additional 2,250 shares during the period. Finally, Balentine LLC raised its stake in Cisco Systems by 121.7% in the 3rd quarter. Balentine LLC now owns 11,153 shares of the network equipment provider’s stock valued at $594,000 after acquiring an additional 6,123 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Richard Scott Herren sold 19,929 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $1,283,626.89. Following the completion of the sale, the chief financial officer now owns 335,605 shares of the company’s stock, valued at $21,616,318.05. This trade represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 31,983 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the sale, the chief executive officer now directly owns 736,120 shares of the company’s stock, 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. Over the last 90 days, insiders sold 74,848 shares of company stock valued at $4,767,206. 0.01% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CSCO has been the topic of a number of research reports. Barclays boosted their price objective on Cisco Systems from $56.00 to $61.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. Wells Fargo & Company boosted their price objective on Cisco Systems from $60.00 to $72.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. Morgan Stanley boosted their price objective on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Piper Sandler upped their price target on Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group upped their price target on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.63.

Cisco Systems Stock Up 1.1 %

Shares of CSCO opened at $63.96 on Thursday. The firm has a market cap of $254.45 billion, a P/E ratio of 27.93, a P/E/G ratio of 4.16 and a beta of 0.79. The stock has a 50 day simple moving average of $61.47 and a two-hundred day simple moving average of $57.20. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate 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, analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems announced that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to buy up to 6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders 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 dividend yield of 2.56%. 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 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.