Forte Capital LLC ADV Sells 653 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Forte Capital LLC ADV lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 64,001 shares of the network equipment provider’s stock after selling 653 shares during the quarter. Forte Capital LLC ADV’s holdings in Cisco Systems were worth $3,233,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CSCO. Valued Wealth Advisors LLC bought a new position in Cisco Systems during the 4th quarter valued at about $32,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter worth approximately $33,000. Morton Brown Family Wealth LLC lifted its stake in shares of Cisco Systems by 41.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 208 shares during the last quarter. Bourgeon Capital Management LLC boosted its holdings in Cisco Systems by 3,500.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 700 shares during the period. Finally, Rakuten Securities Inc. purchased a new stake in Cisco Systems in the fourth quarter worth $43,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 0.7 %

Shares of CSCO traded up $0.33 during mid-day trading on Friday, hitting $47.12. 17,935,302 shares of the company traded hands, compared to its average volume of 17,219,910. The business has a 50 day moving average of $48.79 and a 200 day moving average of $49.83. The company has a market capitalization of $190.80 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 2.72 and a beta of 0.87. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. Cisco Systems, Inc. has a 1-year low of $45.56 and a 1-year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The business had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. During the same quarter last year, the company posted $0.76 earnings per share. The business’s quarterly revenue was down 5.9% on a year-over-year basis. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.40%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date was Wednesday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 48.63%.

Analysts Set New Price Targets

CSCO has been the topic of a number of research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Tuesday, April 9th. JPMorgan Chase & Co. assumed coverage on shares of Cisco Systems in a research note on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target for the company. Barclays increased their price objective on Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the company from $55.00 to $60.00 in a research note on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Hold” and an average price target of $55.53.

Insider Activity at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the transaction, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock worth $972,080 over the last quarter. Insiders own 0.02% of the company’s stock.

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.