Rice Partnership LLC Sells 600 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Rice Partnership LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 15,038 shares of the network equipment provider’s stock after selling 600 shares during the period. Rice Partnership LLC’s holdings in Cisco Systems were worth $890,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Resonant Capital Advisors LLC raised its holdings in Cisco Systems by 2.6% in the 4th quarter. Resonant Capital Advisors LLC now owns 63,230 shares of the network equipment provider’s stock valued at $3,743,000 after buying an additional 1,602 shares during the last quarter. Catalina Capital Group LLC increased its position in Cisco Systems by 10.4% during the 4th quarter. Catalina Capital Group LLC now owns 15,923 shares of the network equipment provider’s stock valued at $943,000 after purchasing an additional 1,499 shares during the period. Chicago Capital LLC increased its position in Cisco Systems by 2.9% during the 4th quarter. Chicago Capital LLC now owns 37,541 shares of the network equipment provider’s stock valued at $2,222,000 after purchasing an additional 1,064 shares during the period. Means Investment CO. Inc. increased its position in Cisco Systems by 1.6% during the 4th quarter. Means Investment CO. Inc. now owns 25,319 shares of the network equipment provider’s stock valued at $1,499,000 after purchasing an additional 403 shares during the period. Finally, Oak Family Advisors LLC increased its position in Cisco Systems by 85.0% during the 4th quarter. Oak Family Advisors LLC now owns 8,989 shares of the network equipment provider’s stock valued at $532,000 after purchasing an additional 4,130 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 0.2 %

NASDAQ CSCO opened at $60.60 on Monday. The stock has a market capitalization of $241.36 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 4.51 and a beta of 0.84. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $62.31. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The business’s fifty day moving average is $59.44 and its 200-day moving average is $54.58.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates 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 business posted $0.98 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. Equities research analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Bank of America increased their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Tigress Financial increased their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Citigroup increased their target price on shares of Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, January 17th. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price for the company in a research report on Tuesday, January 28th. Finally, Morgan Stanley increased their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $62.72.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 3,042 shares of Cisco Systems stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $59.19, for a total transaction of $180,055.98. Following the completion of the transaction, the executive vice president now owns 207,798 shares of the company’s stock, valued at $12,299,563.62. The trade was a 1.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 586 shares of Cisco Systems stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the transaction, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at $2,979,515.23. The trade was a 1.14 % 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. Company insiders own 0.01% of the company’s stock.

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.