Wedmont Private Capital Acquires 4,093 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Wedmont Private Capital grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,669 shares of the network equipment provider’s stock after purchasing an additional 4,093 shares during the quarter. Wedmont Private Capital’s holdings in Cisco Systems were worth $2,330,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CSCO. Talbot Financial LLC grew its holdings in Cisco Systems by 0.7% in the 4th quarter. Talbot Financial LLC now owns 191,130 shares of the network equipment provider’s stock valued at $11,315,000 after buying an additional 1,294 shares in the last quarter. Agate Pass Investment Management LLC increased its position in Cisco Systems by 29.5% during the fourth quarter. Agate Pass Investment Management LLC now owns 55,374 shares of the network equipment provider’s stock worth $3,278,000 after acquiring an additional 12,606 shares during the period. CHICAGO TRUST Co NA raised its stake in Cisco Systems by 10.2% in the 4th quarter. CHICAGO TRUST Co NA now owns 40,205 shares of the network equipment provider’s stock worth $2,380,000 after purchasing an additional 3,716 shares in the last quarter. City State Bank grew its position in shares of Cisco Systems by 12.2% during the 4th quarter. City State Bank now owns 4,365 shares of the network equipment provider’s stock worth $258,000 after purchasing an additional 474 shares in the last quarter. Finally, Trust Co. of Toledo NA OH increased its holdings in shares of Cisco Systems by 7.0% during the fourth quarter. Trust Co. of Toledo NA OH now owns 122,807 shares of the network equipment provider’s stock worth $7,270,000 after purchasing an additional 8,008 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity

In related news, Director Kristina M. Johnson sold 7,500 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $59.87, for a total transaction of $449,025.00. Following the sale, the director now owns 65,915 shares of the company’s stock, valued at $3,946,331.05. The trade was a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Charles Robbins sold 171,744 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 353,522 shares of company stock valued at $20,349,721. Company insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Cisco Systems stock traded up $0.03 during midday trading on Monday, hitting $58.77. 7,430,114 shares of the company’s stock were exchanged, compared to its average volume of 15,609,034. The stock has a 50-day moving average price of $58.67 and a two-hundred day moving average price of $53.18. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $60.23. The company has a market cap of $234.07 billion, a P/E ratio of 25.22, a PEG ratio of 4.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 earnings per share. On average, equities research analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.72%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Analyst Ratings Changes

Several equities analysts have weighed in on CSCO shares. Citigroup lifted their price objective on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, November 14th. UBS Group boosted their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Tigress Financial lifted their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and a consensus price target of $61.28.

Cisco Systems Company 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.