Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Abbrea Capital LLC

Abbrea Capital LLC reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,970 shares of the network equipment provider’s stock after selling 3,205 shares during the quarter. Abbrea Capital LLC’s holdings in Cisco Systems were worth $2,878,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CSCO. California Public Employees Retirement System boosted its stake in shares of Cisco Systems by 25.0% during the 4th quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock worth $947,262,000 after acquiring an additional 3,753,165 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Cisco Systems in the third quarter worth $179,207,000. Capital Wealth Planning LLC boosted its position in shares of Cisco Systems by 7,074.3% in the third quarter. Capital Wealth Planning LLC now owns 3,271,642 shares of the network equipment provider’s stock worth $175,883,000 after buying an additional 3,226,040 shares during the period. Pacer Advisors Inc. boosted its position in shares of Cisco Systems by 32.7% in the fourth quarter. Pacer Advisors Inc. now owns 7,749,370 shares of the network equipment provider’s stock worth $391,498,000 after buying an additional 1,909,597 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Cisco Systems by 3.8% in the third quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock worth $2,717,537,000 after buying an additional 1,847,682 shares during the period. 73.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. UBS Group raised their target price on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Wells Fargo & Company initiated coverage on Cisco Systems in a report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price objective for the company. Barclays increased 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. JPMorgan Chase & Co. assumed coverage on Cisco Systems in a report on Monday. They set a “neutral” rating and a $53.00 price objective for the company. Finally, Melius Research reaffirmed a “hold” rating and set a $55.00 price objective on shares of Cisco Systems in a report on Monday, January 8th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $55.53.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the transaction, the chief financial officer now directly 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 can be accessed through this link. In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the transaction, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction that occurred on 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 approximately $16,424,550. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Stock Performance

Shares of CSCO stock traded down $0.24 on Friday, reaching $47.86. The stock had a trading volume of 14,561,100 shares, compared to its average volume of 19,352,031. The firm has a market capitalization of $193.79 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 2.79 and a beta of 0.87. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19. The firm’s 50-day moving average is $48.95 and its two-hundred day moving average is $50.11.

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

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were paid a $0.40 dividend. The ex-dividend date was Wednesday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 3.34%. Cisco Systems’s dividend payout ratio (DPR) is currently 48.63%.

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.