Van Cleef Asset Management Inc Has $1.60 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Van Cleef Asset Management Inc trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 31,633 shares of the network equipment provider’s stock after selling 369 shares during the period. Van Cleef Asset Management Inc’s holdings in Cisco Systems were worth $1,598,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Cisco Systems by 2.6% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,778,542 shares of the network equipment provider’s stock valued at $89,852,000 after buying an additional 45,800 shares in the last quarter. Syon Capital LLC raised its position in shares of Cisco Systems by 16.9% in the fourth quarter. Syon Capital LLC now owns 22,140 shares of the network equipment provider’s stock valued at $1,119,000 after buying an additional 3,205 shares in the last quarter. Two Point Capital Management Inc. raised its position in shares of Cisco Systems by 4.7% in the fourth quarter. Two Point Capital Management Inc. now owns 173,101 shares of the network equipment provider’s stock valued at $8,745,000 after buying an additional 7,700 shares in the last quarter. Eley Financial Management Inc raised its position in Cisco Systems by 1.2% during the fourth quarter. Eley Financial Management Inc now owns 43,841 shares of the network equipment provider’s stock valued at $2,215,000 after purchasing an additional 509 shares in the last quarter. Finally, Lyell Wealth Management LP raised its position in Cisco Systems by 4.4% during the fourth quarter. Lyell Wealth Management LP now owns 25,460 shares of the network equipment provider’s stock valued at $1,286,000 after purchasing an additional 1,064 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the sale, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The disclosure for this sale can be found here. Over the last 90 days, 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

CSCO has been the subject of several research analyst reports. Melius downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Morgan Stanley initiated coverage on shares of Cisco Systems in a research report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price objective for the company. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $55.00 to $60.00 in a report on Monday, April 15th. Finally, Wells Fargo & Company initiated coverage on shares of Cisco Systems in a report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price target for the company. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $55.53.

Cisco Systems Trading Down 0.5 %

CSCO traded down $0.25 during trading on Thursday, reaching $48.10. 18,775,419 shares of the stock traded hands, compared to its average volume of 19,411,053. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $194.77 billion, a PE ratio of 14.56, a P/E/G ratio of 2.79 and a beta of 0.87. The stock’s 50-day moving average is $48.97 and its 200 day moving average is $50.12. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The business had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 earnings per share. Equities analysts anticipate that Cisco Systems, Inc. will post 3.13 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.33%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio is currently 48.63%.

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.