CLARET ASSET MANAGEMENT Corp lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 0.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 284,530 shares of the network equipment provider's stock after selling 1,103 shares during the quarter. Cisco Systems accounts for about 3.0% of CLARET ASSET MANAGEMENT Corp's investment portfolio, making the stock its 11th largest position. CLARET ASSET MANAGEMENT Corp's holdings in Cisco Systems were worth $13,555,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Vigilant Capital Management LLC lifted its holdings in Cisco Systems by 1.7% during the fourth quarter. Vigilant Capital Management LLC now owns 12,294 shares of the network equipment provider's stock valued at $586,000 after purchasing an additional 207 shares in the last quarter. Howland Capital Management LLC increased its position in Cisco Systems by 1.4% in the fourth quarter. Howland Capital Management LLC now owns 14,824 shares of the network equipment provider's stock worth $706,000 after purchasing an additional 208 shares during the last quarter. MADDEN SECURITIES Corp increased its position in Cisco Systems by 3.6% in the fourth quarter. MADDEN SECURITIES Corp now owns 5,976 shares of the network equipment provider's stock worth $285,000 after purchasing an additional 210 shares during the last quarter. Dearborn Partners LLC increased its position in Cisco Systems by 0.5% in the third quarter. Dearborn Partners LLC now owns 46,849 shares of the network equipment provider's stock worth $1,874,000 after purchasing an additional 212 shares during the last quarter. Finally, Proffitt & Goodson Inc. increased its position in Cisco Systems by 1.0% in the fourth quarter. Proffitt & Goodson Inc. now owns 21,380 shares of the network equipment provider's stock worth $1,019,000 after purchasing an additional 215 shares during the last quarter. Hedge funds and other institutional investors own 71.10% of the company's stock.
Get Cisco Systems alerts:Insider Transactions at Cisco Systems
In related news, EVP Deborah L. Stahlkopf sold 3,142 shares of the business's stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $48.78, for a total value of $153,266.76. Following the sale, the executive vice president now directly owns 180,697 shares in the company, valued at approximately $8,814,399.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Deborah L. Stahlkopf sold 23,701 shares of the stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $50.90, for a total value of $1,206,380.90. Following the completion of the sale, the executive vice president now directly owns 184,853 shares of the company's stock, valued at $9,409,017.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,142 shares of the stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $48.78, for a total value of $153,266.76. Following the completion of the sale, the executive vice president now directly owns 180,697 shares of the company's stock, valued at $8,814,399.66. The disclosure for this sale can be found here. Insiders have sold a total of 47,568 shares of company stock worth $2,376,624 in the last quarter. Company insiders own 0.02% of the company's stock.
Cisco Systems Price Performance
Cisco Systems stock opened at $47.21 on Monday. The company's fifty day moving average price is $49.57 and its 200 day moving average price is $47.90. Cisco Systems, Inc. has a 1 year low of $38.60 and a 1 year high of $52.56. The stock has a market capitalization of $193.36 billion, a P/E ratio of 17.31, a P/E/G ratio of 2.15 and a beta of 1.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.30 and a current ratio of 1.41.
Cisco Systems (NASDAQ:CSCO – Get Rating) last announced its earnings results on Wednesday, February 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.12. Cisco Systems had a net margin of 21.26% and a return on equity of 31.19%. The company had revenue of $13.59 billion for the quarter, compared to analysts' expectations of $13.41 billion. During the same quarter in the previous year, the company posted $0.77 EPS. The firm's quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 3.33 earnings per share for the current fiscal year.
Cisco Systems Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 26th. Stockholders of record on Wednesday, April 5th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Tuesday, April 4th. This is a positive change from Cisco Systems's previous quarterly dividend of $0.38. Cisco Systems's payout ratio is currently 57.14%.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the company an "equal weight" rating in a research note on Thursday, February 16th. DZ Bank upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and set a $58.00 target price on the stock in a report on Friday, February 17th. The Goldman Sachs Group began coverage on shares of Cisco Systems in a report on Monday, March 6th. They set a "neutral" rating on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cisco Systems from $52.00 to $55.00 and gave the stock a "hold" rating in a report on Wednesday, February 22nd. Finally, Morgan Stanley increased their target price on shares of Cisco Systems from $52.00 to $55.00 and gave the stock an "equal weight" rating in a report on Thursday, February 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $56.38.
Cisco Systems Profile
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Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its products include the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.
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