RKL Wealth Management LLC Decreases Position in Cisco Systems, Inc. (CSCO)

RKL Wealth Management LLC trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 22.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,287 shares of the network equipment provider’s stock after selling 6,514 shares during the period. RKL Wealth Management LLC’s holdings in Cisco Systems were worth $854,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CSCO. Vanguard Group Inc. boosted its stake in Cisco Systems by 2.2% in the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock valued at $11,021,378,000 after acquiring an additional 7,411,891 shares during the period. Ameriprise Financial Inc. boosted its stake in Cisco Systems by 23.6% in the third quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock valued at $2,109,614,000 after acquiring an additional 11,972,070 shares during the period. Dimensional Fund Advisors LP boosted its stake in Cisco Systems by 6.5% in the third quarter. Dimensional Fund Advisors LP now owns 48,741,535 shares of the network equipment provider’s stock valued at $1,639,089,000 after acquiring an additional 2,987,682 shares during the period. Nordea Investment Management AB boosted its stake in Cisco Systems by 8.3% in the third quarter. Nordea Investment Management AB now owns 34,013,570 shares of the network equipment provider’s stock valued at $1,143,876,000 after acquiring an additional 2,617,310 shares during the period. Finally, Boston Partners boosted its stake in Cisco Systems by 11.2% in the fourth quarter. Boston Partners now owns 33,799,233 shares of the network equipment provider’s stock valued at $1,294,510,000 after acquiring an additional 3,397,848 shares during the period. Institutional investors and hedge funds own 77.55% of the company’s stock.

NASDAQ CSCO opened at $43.30 on Tuesday. The firm has a market capitalization of $207,153.28, a price-to-earnings ratio of 20.14, a P/E/G ratio of 2.88 and a beta of 1.14. Cisco Systems, Inc. has a 1 year low of $30.36 and a 1 year high of $46.16. The company has a current ratio of 2.43, a quick ratio of 2.38 and a debt-to-equity ratio of 0.49.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.04. The company had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.82 billion. Cisco Systems had a positive return on equity of 17.77% and a negative net margin of 3.00%. During the same quarter in the prior year, the company earned $0.57 earnings per share. analysts anticipate that Cisco Systems, Inc. will post 2.33 EPS for the current year.

Cisco Systems announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 14th that permits the company to buyback $25.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Thursday, April 5th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, April 4th. This represents a $1.32 annualized dividend and a dividend yield of 3.05%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s dividend payout ratio is currently 61.40%.

In other Cisco Systems news, EVP David Goeckeler sold 20,671 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $45.50, for a total value of $940,530.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arun Sarin sold 14,189 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $44.10, for a total value of $625,734.90. The disclosure for this sale can be found here. Insiders sold 46,986 shares of company stock worth $2,116,422 in the last ninety days. 0.05% of the stock is owned by corporate insiders.

A number of brokerages have commented on CSCO. Piper Jaffray restated an “overweight” rating and issued a $44.00 target price on shares of Cisco Systems in a research note on Wednesday, January 10th. William Blair restated an “outperform” rating on shares of Cisco Systems in a research note on Thursday, February 15th. Zacks Investment Research downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. Royal Bank of Canada reiterated a “buy” rating and set a $44.00 price objective on shares of Cisco Systems in a research report on Monday, February 12th. Finally, KeyCorp boosted their price objective on Cisco Systems from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $44.23.

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About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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