Interchange Capital Partners LLC Decreases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Interchange Capital Partners LLC trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 20.2% in the 4th quarter, Holdings Channel reports. The firm owned 9,044 shares of the network equipment provider’s stock after selling 2,292 shares during the period. Interchange Capital Partners LLC’s holdings in Cisco Systems were worth $535,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $30,000. Campbell Capital Management Inc. purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $31,000. Highline Wealth Partners LLC raised its holdings in shares of Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares during the last quarter. Finally, Synergy Investment Management LLC purchased a new stake in Cisco Systems during the fourth quarter valued at approximately $36,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of research reports. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price for the company in a report on Tuesday, January 28th. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Rosenblatt Securities raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the company from $66.00 to $80.00 in a report on Thursday, February 13th. UBS Group upped their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, Citigroup reaffirmed an “overweight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.63.

Cisco Systems Price Performance

Cisco Systems stock opened at $60.30 on Monday. The firm has a 50-day moving average price of $61.95 and a 200-day moving average price of $58.17. The firm has a market capitalization of $239.89 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. 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 posted its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 2.72%. Cisco Systems’s dividend payout ratio (DPR) is 71.62%.

Cisco Systems announced that its board has approved a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares in the company, valued at $11,604,868.80. This trade represents a 1.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard Scott Herren sold 19,929 shares of Cisco Systems stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the completion of the sale, the chief financial officer now owns 335,605 shares of the company’s stock, valued at $21,616,318.05. This trade represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,547 shares of company stock worth $4,275,553 in the last three months. Corporate insiders own 0.01% of the company’s stock.

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.