Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. State Street Corp grew its stake in Cisco Systems by 1.7% during the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after purchasing an additional 3,241,682 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cisco Systems by 1.3% during the third quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after purchasing an additional 1,262,017 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Cisco Systems by 2.1% in the third 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 buying an additional 1,677,383 shares during the last quarter. 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 buying an additional 5,885,879 shares during the period. Finally, Legal & General Group Plc raised its position 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 buying an additional 1,530,468 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

CSCO opened at $59.82 on Friday. The company has a market cap of $238.24 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 4.37 and a beta of 0.84. The firm’s fifty day simple moving average is $58.83 and its two-hundred day simple moving average is $53.39. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $60.45.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data 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 return on equity of 25.70% and a net margin of 17.73%. 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 previous year, the firm posted $0.98 EPS. Cisco Systems’s revenue was down 5.6% compared to the same quarter last year. Equities analysts anticipate 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 annualized dividend and a yield of 2.67%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Analyst Ratings Changes

CSCO has been the topic of several recent research reports. Evercore ISI upped their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Wells Fargo & Company upped their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. UBS Group lifted their price objective on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Tigress Financial upped their target price on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.50.

Insider Buying and Selling at Cisco Systems

In related news, SVP Maria Victoria Wong sold 4,881 shares of Cisco Systems stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total transaction of $291,542.13. Following the transaction, the senior vice president now owns 51,931 shares in the company, valued at approximately $3,101,838.63. This trade represents a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction 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 owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. The trade was a 17.97 % 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 worth $20,349,721. Corporate insiders own 0.01% of the company’s stock.

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.