Ritholtz Wealth Management Has $6.51 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Ritholtz Wealth Management cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 128,775 shares of the network equipment provider’s stock after selling 9,588 shares during the period. Ritholtz Wealth Management’s holdings in Cisco Systems were worth $6,506,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of CSCO. Kathleen S. Wright Associates Inc. bought a new stake in shares of Cisco Systems in the third quarter valued at about $27,000. Valued Wealth Advisors LLC bought a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $32,000. Fortis Capital Advisors LLC bought a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $34,000. Hibernia Wealth Partners LLC bought a new stake in Cisco Systems during the third quarter worth $42,000. Finally, VitalStone Financial LLC bought a new stake in Cisco Systems during the second quarter worth $45,000. 73.33% of the stock is currently owned by institutional investors.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the sale, the senior vice president now directly owns 58,121 shares in the company, valued at approximately $2,906,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares in the company, valued at $9,579,865.59. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares in the company, valued at $2,906,050. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,441 shares of company stock worth $972,080. Company insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CSCO. Melius Research reiterated a “hold” rating and issued a $55.00 price target on shares of Cisco Systems in a research note on Monday, January 8th. Melius cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. UBS Group raised their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Barclays boosted their price objective on Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. Finally, StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $56.42.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $49.91 on Friday. The company’s 50-day moving average is $49.77 and its 200 day moving average is $50.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The company has a market capitalization of $202.10 billion, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 2.24 and a beta of 0.87. Cisco Systems, Inc. has a fifty-two week low of $45.56 and a fifty-two week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The business had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. During the same period in the previous year, the business posted $0.76 EPS. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. On average, equities research analysts forecast that Cisco Systems, Inc. will post 3.16 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be paid a $0.40 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Wednesday, April 3rd. Cisco Systems’s payout ratio is currently 47.42%.

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.