Cisco Systems, Inc. (NASDAQ:CSCO) Position Cut by Walled Lake Planning & Wealth Management LLC

Walled Lake Planning & Wealth Management LLC decreased its position in Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 111,621 shares of the network equipment provider’s stock after selling 3,372 shares during the quarter. Cisco Systems accounts for approximately 4.1% of Walled Lake Planning & Wealth Management LLC’s portfolio, making the stock its 4th largest position. Walled Lake Planning & Wealth Management LLC’s holdings in Cisco Systems were worth $7,073,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cascade Investment Advisors Inc. increased its position in shares of Cisco Systems by 1.8% during the fourth quarter. Cascade Investment Advisors Inc. now owns 31,579 shares of the network equipment provider’s stock worth $2,001,000 after acquiring an additional 570 shares during the period. Bailard Inc. increased its position in shares of Cisco Systems by 2.3% during the fourth quarter. Bailard Inc. now owns 71,528 shares of the network equipment provider’s stock worth $4,533,000 after acquiring an additional 1,594 shares during the period. International Assets Investment Management LLC increased its position in shares of Cisco Systems by 4.5% during the fourth quarter. International Assets Investment Management LLC now owns 38,650 shares of the network equipment provider’s stock worth $2,262,000 after acquiring an additional 1,652 shares during the period. Winfield Associates Inc. increased its position in shares of Cisco Systems by 7.0% during the fourth quarter. Winfield Associates Inc. now owns 12,540 shares of the network equipment provider’s stock worth $795,000 after acquiring an additional 825 shares during the period. Finally, L2 Asset Management LLC increased its position in shares of Cisco Systems by 83.0% during the fourth quarter. L2 Asset Management LLC now owns 38,020 shares of the network equipment provider’s stock worth $2,409,000 after acquiring an additional 17,243 shares during the period. 73.18% of the stock is currently owned by institutional investors.

In other Cisco Systems news, SVP Prat Bhatt sold 3,623 shares of the stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $56.40, for a total value of $204,337.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Maria Martinez sold 992 shares of the stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $55.24, for a total transaction of $54,798.08. The disclosure for this sale can be found here. Insiders have sold 20,605 shares of company stock valued at $1,121,147 over the last three months. 0.02% of the stock is currently owned by corporate insiders.

Shares of NASDAQ:CSCO traded up $1.27 on Friday, reaching $49.56. The company’s stock had a trading volume of 18,948,650 shares, compared to its average volume of 19,540,174. The stock’s 50-day moving average is $52.97 and its two-hundred day moving average is $55.98. Cisco Systems, Inc. has a 52-week low of $47.47 and a 52-week high of $64.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.42 and a quick ratio of 1.34. The stock has a market capitalization of $205.88 billion, a P/E ratio of 17.70, a PEG ratio of 2.42 and a beta of 0.99.

Cisco Systems (NASDAQ:CSCOGet Rating) last announced its earnings results on Wednesday, February 16th. The network equipment provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. The business had revenue of $12.72 billion during the quarter, compared to analysts’ expectations of $12.67 billion. Cisco Systems had a net margin of 22.94% and a return on equity of 30.95%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 earnings per share. Equities analysts forecast that Cisco Systems, Inc. will post 3.09 earnings per share for the current fiscal year.

Cisco Systems declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 16th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 27th. Investors of record on Wednesday, April 6th were issued a dividend of $0.38 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a yield of 3.07%. The ex-dividend date was Tuesday, April 5th. Cisco Systems’s dividend payout ratio is currently 54.29%.

A number of research firms have recently weighed in on CSCO. Wells Fargo & Company lowered Cisco Systems from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $70.00 to $65.00 in a research report on Thursday, March 10th. Loop Capital started coverage on shares of Cisco Systems in a research note on Monday, February 14th. They set a “buy” rating and a $71.00 target price for the company. Citigroup downgraded shares of Cisco Systems from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $65.00 to $45.00 in a research note on Tuesday, April 12th. Morgan Stanley lowered their target price on shares of Cisco Systems from $61.00 to $59.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 12th. Finally, Raymond James lowered their target price on shares of Cisco Systems from $64.00 to $63.00 and set an “outperform” rating for the company in a research note on Thursday, February 17th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $62.44.

About Cisco Systems (Get Rating)

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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