Callan Capital LLC Sells 766 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Callan Capital LLC cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,159 shares of the network equipment provider’s stock after selling 766 shares during the quarter. Callan Capital LLC’s holdings in Cisco Systems were worth $1,016,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CSCO. State Street Corp grew its stake in shares of Cisco Systems by 1.7% in the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after acquiring an additional 3,241,682 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Cisco Systems by 1.3% in the third quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after acquiring an additional 1,262,017 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Cisco Systems by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after acquiring an additional 1,677,383 shares during the last quarter. FMR LLC grew its stake in shares of Cisco Systems by 10.1% in the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after acquiring an additional 5,885,879 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Cisco Systems by 1.2% in the fourth quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock worth $1,107,930,000 after acquiring an additional 216,632 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 586 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the transaction, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at $2,979,515.23. This represents a 1.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Richard Scott Herren sold 19,929 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $1,283,626.89. Following the sale, the chief financial officer now owns 335,605 shares in the company, valued at approximately $21,616,318.05. The trade was a 5.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,921 shares of company stock worth $4,298,667. 0.01% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CSCO shares. Wells Fargo & Company increased their price objective on Cisco Systems from $60.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday, February 13th. UBS Group increased their price objective on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. StockNews.com cut Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Melius raised Cisco Systems from a “hold” rating to a “buy” rating and raised their target price for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and an average target price of $66.53.

Cisco Systems Stock Down 1.1 %

Shares of CSCO opened at $63.98 on Friday. The company has a market capitalization of $254.53 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 4.17 and a beta of 0.84. The business’s 50 day moving average is $60.65 and its 200 day moving average is $56.15. The company has a current ratio of 0.87, a quick ratio of 0.79 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 released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share 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%. Research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be issued a $0.41 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.56%. Cisco Systems’s 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.