Spinnaker Trust Increases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Spinnaker Trust boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,380 shares of the network equipment provider’s stock after acquiring an additional 1,054 shares during the period. Spinnaker Trust’s holdings in Cisco Systems were worth $3,960,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Cisco Systems in the third quarter worth $27,000. Valued Wealth Advisors LLC purchased a new stake in shares of Cisco Systems in the 4th quarter valued at about $32,000. Morton Brown Family Wealth LLC boosted its position in shares of Cisco Systems by 41.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 208 shares during the last quarter. Bourgeon Capital Management LLC grew its holdings in shares of Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 700 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new position in shares of Cisco Systems in the fourth quarter worth approximately $43,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.5 %

Shares of NASDAQ CSCO traded down $0.24 during trading hours on Friday, hitting $47.86. The company’s stock had a trading volume of 14,657,974 shares, compared to its average volume of 19,353,209. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19. The stock has a market cap of $193.79 billion, a price-to-earnings ratio of 14.55, a P/E/G ratio of 2.79 and a beta of 0.87. 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 business has a 50-day simple moving average of $48.94 and a 200-day simple moving average of $50.06.

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

Cisco Systems Increases Dividend

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

Insider Activity

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems 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 approximately $9,579,865.59. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the sale, 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 90 days, insiders have sold 19,441 shares of company stock valued at $972,080. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Citigroup assumed coverage on shares of Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 target price for the company. Wells Fargo & Company initiated coverage on shares of Cisco Systems in a research report on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 target price for the company. Morgan Stanley assumed coverage on Cisco Systems in a research report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price target on the stock. StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and an average target price of $55.53.

About Cisco Systems

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.