Procyon Advisors LLC Grows Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Procyon Advisors LLC boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,528 shares of the network equipment provider’s stock after buying an additional 730 shares during the quarter. Procyon Advisors LLC’s holdings in Cisco Systems were worth $5,537,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 58,188 shares of Cisco Systems stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $3,345,228.12. Following the completion of the transaction, the executive vice president now directly owns 219,100 shares in the company, valued at $12,596,059. This represents a 20.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of analyst reports. Wells Fargo & Company increased their price objective on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Tigress Financial increased their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Citigroup upped their price objective on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and upped their price target for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. 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 stock. According to data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $61.50.

Cisco Systems Price Performance

Shares of CSCO stock opened at $59.82 on Friday. The stock has a market capitalization of $238.24 billion, a price-to-earnings ratio of 25.67, a P/E/G ratio of 4.37 and a beta of 0.84. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $60.45. The stock has a fifty day simple moving average of $58.83 and a two-hundred day simple moving average of $53.39.

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

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.67%. Cisco Systems’s dividend payout ratio is currently 68.67%.

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.