Brighton Jones LLC Grows Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Brighton Jones LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 22.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,448 shares of the network equipment provider’s stock after acquiring an additional 14,197 shares during the period. Brighton Jones LLC’s holdings in Cisco Systems were worth $3,963,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CSCO. Waddell & Associates LLC grew its stake in Cisco Systems by 0.8% during the 3rd quarter. Waddell & Associates LLC now owns 24,693 shares of the network equipment provider’s stock worth $1,328,000 after buying an additional 191 shares during the last quarter. Sax Wealth Advisors LLC grew its stake in shares of Cisco Systems by 3.6% in the third quarter. Sax Wealth Advisors LLC now owns 5,686 shares of the network equipment provider’s stock worth $306,000 after purchasing an additional 196 shares in the last quarter. Winch Advisory Services LLC grew its stake in shares of Cisco Systems by 19.3% in the third quarter. Winch Advisory Services LLC now owns 1,232 shares of the network equipment provider’s stock worth $66,000 after purchasing an additional 199 shares in the last quarter. Lodestone Wealth Management LLC grew its stake in shares of Cisco Systems by 0.6% in the third quarter. Lodestone Wealth Management LLC now owns 36,587 shares of the network equipment provider’s stock worth $1,967,000 after purchasing an additional 205 shares in the last quarter. Finally, Gill Capital Partners LLC grew its stake in shares of Cisco Systems by 5.2% in the third quarter. Gill Capital Partners LLC now owns 4,155 shares of the network equipment provider’s stock worth $223,000 after purchasing an additional 207 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

Shares of CSCO traded down $0.80 on Tuesday, reaching $46.98. 18,531,437 shares of the stock traded hands, compared to its average volume of 19,243,893. The stock’s 50-day moving average price is $48.92 and its 200-day moving average price is $49.97. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19. The firm has a market cap of $190.23 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 2.76 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26.

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

Cisco Systems Increases Dividend

The firm also recently announced 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. This represents a $1.60 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Wednesday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio is presently 48.63%.

Analysts Set New Price Targets

CSCO has been the subject of several research analyst reports. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Melius lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Morgan Stanley began coverage on Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price on the stock. Wells Fargo & Company began coverage on Cisco Systems in a research note on Thursday, February 15th. They set an “equal weight” rating and a $52.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $55.53.

Insider Transactions at Cisco Systems

In other news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $16,424,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at $16,424,550. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,441 shares of company stock worth $972,080. Insiders own 0.02% of the company’s stock.

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.