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% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 206,410 shares of the network equipment provider’s stock after purchasing an additional 12,604 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Cisco Systems were worth $12,220,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Highline Wealth Partners LLC raised its holdings in shares of Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in Cisco Systems during the 3rd quarter valued at $40,000. Decker Retirement Planning Inc. bought a new stake in Cisco Systems during the 4th quarter valued at $49,000. Capital Performance Advisors LLP bought a new stake in Cisco Systems during the 3rd quarter valued at $51,000. Finally, FSA Wealth Management LLC bought a new stake in Cisco Systems during the 3rd quarter valued at $56,000. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CSCO. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price on the stock in a report on Tuesday, January 28th. UBS Group boosted their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday. Bank of America boosted their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Morgan Stanley boosted their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group boosted their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.53.

Cisco Systems Stock Up 1.6 %

Shares of NASDAQ:CSCO opened at $64.87 on Friday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The firm has a fifty day moving average of $59.97 and a 200 day moving average of $55.42. The firm has a market capitalization of $258.36 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 4.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly 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 net margin of 17.73% and a return on equity of 25.70%. As a group, research analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Increases Dividend

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

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

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. This represents a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 4,881 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the transaction, the senior vice president now directly owns 51,931 shares of the company’s stock, valued at approximately $3,101,838.63. This trade represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,239 shares of company stock worth $2,166,612 over the last three months. 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.