Agate Pass Investment Management LLC Has $4.20 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Agate Pass Investment Management LLC grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 22.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,995 shares of the network equipment provider’s stock after purchasing an additional 12,621 shares during the period. Cisco Systems makes up 1.8% of Agate Pass Investment Management LLC’s investment portfolio, making the stock its 13th biggest holding. Agate Pass Investment Management LLC’s holdings in Cisco Systems were worth $4,196,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CSCO. Versant Capital Management Inc boosted its holdings in Cisco Systems by 114.7% in the first quarter. Versant Capital Management Inc now owns 16,366 shares of the network equipment provider’s stock worth $1,010,000 after acquiring an additional 8,742 shares in the last quarter. First Hawaiian Bank raised its position in shares of Cisco Systems by 3.4% during the first quarter. First Hawaiian Bank now owns 42,731 shares of the network equipment provider’s stock worth $2,637,000 after purchasing an additional 1,403 shares during the period. Kera Capital Partners Inc. bought a new position in shares of Cisco Systems in the 1st quarter worth $238,000. Marcum Wealth LLC grew its position in Cisco Systems by 9.6% in the 1st quarter. Marcum Wealth LLC now owns 18,555 shares of the network equipment provider’s stock valued at $1,145,000 after purchasing an additional 1,629 shares during the period. Finally, Neville Rodie & Shaw Inc. grew its position in Cisco Systems by 1.9% in the 1st quarter. Neville Rodie & Shaw Inc. now owns 25,677 shares of the network equipment provider’s stock valued at $1,584,000 after purchasing an additional 482 shares during the period. Institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CSCO. Wells Fargo & Company raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. UBS Group raised their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. New Street Research reiterated a “neutral” rating and set a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Finally, Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. This trade represents a 1.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the sale, the executive vice president now owns 191,184 shares in the company, valued at $11,604,868.80. This represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,616 shares of company stock worth $2,640,095. Insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 0.5%

Shares of Cisco Systems stock opened at $63.05 on Friday. The firm has a market cap of $249.68 billion, a PE ratio of 27.53, a P/E/G ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The stock has a fifty day moving average price of $59.26 and a 200-day moving average price of $60.07.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 earnings per share. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.60%. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Cisco Systems declared that its board has approved a stock buyback program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

About Cisco Systems

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.