Elefante Mark B Acquires 1,172 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

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Elefante Mark B boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 27.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,470 shares of the network equipment provider’s stock after buying an additional 1,172 shares during the quarter. Elefante Mark B’s holdings in Cisco Systems were worth $262,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Gradient Investments LLC raised its holdings in Cisco Systems by 11.7% in the fourth quarter. Gradient Investments LLC now owns 273,509 shares of the network equipment provider’s stock worth $13,117,000 after purchasing an additional 28,571 shares in the last quarter. Cardinal Capital Management Inc. raised its holdings in Cisco Systems by 4.1% in the fourth quarter. Cardinal Capital Management Inc. now owns 404,824 shares of the network equipment provider’s stock worth $19,415,000 after purchasing an additional 15,875 shares in the last quarter. LVM Capital Management Ltd. MI raised its holdings in Cisco Systems by 1.5% in the fourth quarter. LVM Capital Management Ltd. MI now owns 387,261 shares of the network equipment provider’s stock worth $18,573,000 after purchasing an additional 5,683 shares in the last quarter. Coastline Trust Co raised its holdings in Cisco Systems by 2.5% in the fourth quarter. Coastline Trust Co now owns 118,118 shares of the network equipment provider’s stock worth $5,664,000 after purchasing an additional 2,903 shares in the last quarter. Finally, Cohen Klingenstein LLC raised its holdings in Cisco Systems by 7.6% in the fourth quarter. Cohen Klingenstein LLC now owns 153,665 shares of the network equipment provider’s stock worth $7,370,000 after purchasing an additional 10,800 shares in the last quarter. Institutional investors and hedge funds own 72.55% of the company’s stock.

Shares of NASDAQ:CSCO opened at $48.01 on Thursday. Cisco Systems, Inc. has a 1-year low of $43.40 and a 1-year high of $58.26. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.70 and a quick ratio of 1.64. The business has a fifty day moving average price of $46.45 and a 200-day moving average price of $49.14. The company has a market capitalization of $202.74 billion, a PE ratio of 16.85, a PEG ratio of 2.78 and a beta of 1.23.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. Cisco Systems had a return on equity of 35.01% and a net margin of 21.15%. The company had revenue of $13.16 billion for the quarter, compared to analysts’ expectations of $13.09 billion. During the same period last year, the firm posted $0.75 earnings per share. Cisco Systems’s revenue was up .7% compared to the same quarter last year. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.94 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.40 annualized dividend and a dividend yield of 2.92%. Cisco Systems’s dividend payout ratio (DPR) is presently 49.12%.

In related news, EVP Irving Tan sold 10,733 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $44.81, for a total transaction of $480,945.73. Following the sale, the executive vice president now directly owns 172,199 shares of the company’s stock, valued at $7,716,237.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Robbins sold 208,084 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $44.83, for a total value of $9,328,405.72. The disclosure for this sale can be found here. Insiders have sold 388,864 shares of company stock worth $17,474,321 over the last ninety days. 0.03% of the stock is currently owned by insiders.

A number of research firms have issued reports on CSCO. Credit Suisse Group set a $46.00 price objective on Cisco Systems and gave the stock a “neutral” rating in a report on Thursday, November 14th. UBS Group reiterated a “buy” rating and issued a $54.00 price objective (down previously from $58.00) on shares of Cisco Systems in a report on Thursday, November 14th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Thursday, November 14th. Piper Jaffray Companies downgraded Cisco Systems from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $55.00 to $51.00 in a report on Monday, November 11th. Finally, Wells Fargo & Co restated a “buy” rating and set a $58.00 price target (down from $60.00) on shares of Cisco Systems in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $54.69.

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 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.

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

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