Adell Harriman & Carpenter Inc. Buys 12,604 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Adell Harriman & Carpenter Inc. increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 206,410 shares of the network equipment provider’s stock after acquiring an additional 12,604 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Cisco Systems were worth $12,220,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Valeo Financial Advisors LLC raised its stake in Cisco Systems by 0.3% in the fourth quarter. Valeo Financial Advisors LLC now owns 95,732 shares of the network equipment provider’s stock worth $5,667,000 after buying an additional 322 shares in the last quarter. Roman Butler Fullerton & Co. grew its holdings in Cisco Systems by 5.4% in the fourth quarter. Roman Butler Fullerton & Co. now owns 24,251 shares of the network equipment provider’s stock worth $1,433,000 after purchasing an additional 1,239 shares during the period. Asset Planning Inc purchased a new stake in Cisco Systems in the fourth quarter worth about $617,000. Banque Pictet & Cie SA grew its holdings in Cisco Systems by 3.8% in the fourth quarter. Banque Pictet & Cie SA now owns 55,150 shares of the network equipment provider’s stock worth $3,250,000 after purchasing an additional 2,000 shares during the period. Finally, CFC Planning Co LLC purchased a new stake in Cisco Systems in the fourth quarter worth about $2,683,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Trading Up 1.6 %

Shares of CSCO stock opened at $64.87 on Friday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average is $59.97 and its 200 day moving average is $55.42. The stock has a market capitalization of $258.36 billion, a P/E ratio of 27.84, a P/E/G ratio of 4.63 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Research analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems declared that its board has authorized a share repurchase plan on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Thursday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the transaction, the executive vice president now owns 213,834 shares in the company, valued at $12,203,506.38. This trade represents a 9.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of Cisco Systems stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the transaction, the senior vice president now owns 50,767 shares in the company, valued at $2,979,515.23. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,239 shares of company stock worth $2,166,612 in the last 90 days. 0.01% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on CSCO. StockNews.com upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday. UBS Group upped their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday. Citigroup upped their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. upped their price objective on shares of Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $66.53.

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.