Weatherly Asset Management L. P. Sells 1,588 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Weatherly Asset Management L. P. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 72,412 shares of the network equipment provider’s stock after selling 1,588 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Cisco Systems were worth $3,473,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Nachman Norwood & Parrott Inc increased its holdings in Cisco Systems by 8.3% in the 3rd quarter. Nachman Norwood & Parrott Inc now owns 18,996 shares of the network equipment provider’s stock valued at $938,000 after buying an additional 1,460 shares during the period. Evoke Wealth LLC bought a new position in Cisco Systems in the 3rd quarter valued at about $1,387,000. Eagle Asset Management Inc. increased its holdings in Cisco Systems by 10.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 3,195,050 shares of the network equipment provider’s stock valued at $157,867,000 after buying an additional 299,499 shares during the period. Sepio Capital LLC increased its holdings in Cisco Systems by 16.0% in the 3rd quarter. Sepio Capital LLC now owns 231,224 shares of the network equipment provider’s stock valued at $11,419,000 after buying an additional 31,894 shares during the period. Finally, Maverick Capital Ltd. bought a new position in Cisco Systems in the 2nd quarter valued at about $2,455,000. 72.62% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:CSCO traded up $0.31 during mid-day trading on Friday, hitting $49.31. 971,687 shares of the company’s stock were exchanged, compared to its average volume of 15,692,901. The company has a 50 day simple moving average of $47.10 and a 200-day simple moving average of $48.88. The company has a current ratio of 1.70, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. Cisco Systems, Inc. has a fifty-two week low of $43.40 and a fifty-two week high of $58.26. The firm has a market capitalization of $208.13 billion, a P/E ratio of 19.65, a PEG ratio of 2.85 and a beta of 1.23.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. Cisco Systems had a net margin of 21.15% and a return on equity of 35.01%. The business had revenue of $13.16 billion for the quarter, compared to the consensus estimate of $13.09 billion. During the same period last year, the company earned $0.75 EPS. The firm’s revenue was up .7% compared to the same quarter last year. As a group, analysts expect that Cisco Systems, Inc. will post 2.94 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were given a dividend of $0.35 per share. The ex-dividend date was Thursday, January 2nd. This represents a $1.40 annualized dividend and a yield of 2.84%. Cisco Systems’s dividend payout ratio is presently 49.12%.

In related news, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $45.19, for a total transaction of $3,163,300.00. Following the sale, the chief financial officer now directly owns 352,587 shares in the company, valued at approximately $15,933,406.53. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 12,597 shares of Cisco Systems stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $44.81, for a total transaction of $564,471.57. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 388,864 shares of company stock worth $17,474,321. 0.03% of the stock is owned by corporate insiders.

CSCO has been the topic of several recent analyst reports. UBS Group reissued a “buy” rating and issued a $54.00 target price (down from $58.00) on shares of Cisco Systems in a report on Thursday, November 14th. ValuEngine raised shares of Cisco Systems from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. William Blair reissued a “market perform” rating on shares of Cisco Systems in a report on Thursday, November 14th. BidaskClub raised shares of Cisco Systems from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Royal Bank of Canada set a $56.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a report on Wednesday, November 13th. Thirteen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $54.78.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

See Also: Cost of Goods Sold (COGS)

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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