Brighton Jones LLC Grows Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Brighton Jones LLC grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 49.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,187 shares of the network equipment provider’s stock after buying an additional 24,562 shares during the quarter. Brighton Jones LLC’s holdings in Cisco Systems were worth $4,392,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Montecito Bank & Trust lifted its position in shares of Cisco Systems by 6.0% in the 4th quarter. Montecito Bank & Trust now owns 41,344 shares of the network equipment provider’s stock worth $2,448,000 after purchasing an additional 2,345 shares during the period. Lifestyle Asset Management Inc. bought a new position in shares of Cisco Systems in the 4th quarter worth $239,000. Apeiron RIA LLC boosted its position in Cisco Systems by 6.2% during the fourth quarter. Apeiron RIA LLC now owns 6,910 shares of the network equipment provider’s stock valued at $409,000 after purchasing an additional 405 shares in the last quarter. Secure Asset Management LLC raised its holdings in Cisco Systems by 53.2% in the fourth quarter. Secure Asset Management LLC now owns 6,492 shares of the network equipment provider’s stock worth $384,000 after purchasing an additional 2,254 shares in the last quarter. Finally, Red Door Wealth Management LLC boosted its holdings in shares of Cisco Systems by 9.6% in the 4th quarter. Red Door Wealth Management LLC now owns 147,798 shares of the network equipment provider’s stock valued at $8,750,000 after buying an additional 12,892 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CSCO. 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. Bank of America raised their price objective on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Barclays increased their price target on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Finally, Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the company from $66.00 to $73.00 in a research report on Monday, January 6th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the transaction, the senior vice president now directly owns 50,767 shares in the company, valued at approximately $2,979,515.23. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the sale, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock worth $20,349,721 in the last ninety days. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 1.0 %

CSCO opened at $62.23 on Friday. The company has a 50-day moving average price of $59.04 and a 200 day moving average price of $53.86. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $62.32. The company has a market cap of $247.85 billion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 4.54 and a beta of 0.84. 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 (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating 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 firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same period in the prior year, the company earned $0.98 EPS. The firm’s revenue was down 5.6% compared to the same quarter last year. Sell-side analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders 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 2.57%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

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.