Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Spinnaker Trust

Spinnaker Trust grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% in the fourth quarter, according to 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 buying an additional 1,054 shares during the quarter. Spinnaker Trust’s holdings in Cisco Systems were worth $3,960,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Wealthspire Advisors LLC raised its stake in shares of Cisco Systems by 48.1% in the third quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock valued at $3,838,000 after acquiring an additional 23,194 shares in the last quarter. Roble Belko & Company Inc increased its stake in shares of Cisco Systems by 77.1% during the fourth quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock worth $324,000 after buying an additional 2,788 shares during the period. HBK Sorce Advisory LLC raised its holdings in Cisco Systems by 0.5% in the third quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock valued at $3,448,000 after acquiring an additional 301 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in Cisco Systems in the fourth quarter worth approximately $28,685,000. Finally, Adage Capital Partners GP L.L.C. grew its holdings in Cisco Systems by 1.1% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock worth $240,335,000 after acquiring an additional 49,700 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on CSCO shares. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. UBS Group increased their price objective on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Melius cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Morgan Stanley started coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price target on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $55.53.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded down $0.24 during trading on Friday, reaching $47.86. The company had a trading volume of 14,657,974 shares, compared to its average volume of 19,353,209. Cisco Systems, Inc. has a fifty-two week low of $45.56 and a fifty-two week high of $58.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The stock’s fifty day moving average price is $48.94 and its 200 day moving average price is $50.06. The firm has a market capitalization of $193.79 billion, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 2.79 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The company had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. During the same period in the previous year, the company posted $0.76 EPS. Cisco Systems’s revenue was down 5.9% compared to the same quarter last year. As a group, equities research analysts predict that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

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

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’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 sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at $2,906,050. 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. 0.02% of the stock is owned by corporate insiders.

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.