Cadinha & Co. LLC Takes $13.89 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Cadinha & Co. LLC acquired a new position in Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 234,554 shares of the network equipment provider’s stock, valued at approximately $13,886,000. Cisco Systems makes up 2.3% of Cadinha & Co. LLC’s holdings, making the stock its 22nd biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSCO. State Street Corp increased its stake in shares of Cisco Systems by 1.7% in the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after buying an additional 3,241,682 shares during the last quarter. Geode Capital Management LLC grew its holdings in Cisco Systems by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after acquiring an additional 1,262,017 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Cisco Systems by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after purchasing an additional 1,677,383 shares during the last quarter. FMR LLC raised its stake in shares of Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after purchasing an additional 5,885,879 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Cisco Systems by 3.3% during the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock worth $2,261,185,000 after purchasing an additional 1,530,468 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Up 0.7 %

Shares of CSCO stock opened at $60.23 on Friday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $60.95. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The business’s fifty day moving average is $58.91 and its 200-day moving average is $53.52. The stock has a market cap of $239.88 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 earnings per share. Equities analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio is 68.67%.

Insiders Place Their Bets

In related news, SVP Maria Victoria Wong sold 4,881 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the transaction, the senior vice president now directly owns 51,931 shares of the company’s stock, valued at approximately $3,101,838.63. The trade was a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 353,522 shares of company stock worth $20,349,721. Corporate insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CSCO. Citigroup upped their price objective on Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Friday. UBS Group lifted their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Bank of America upped their target price on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.50.

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.