Somerville Kurt F Trims Position in Cisco Systems, Inc. (NASDAQ:CSCO)

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Somerville Kurt F cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,385 shares of the network equipment provider’s stock after selling 600 shares during the period. Somerville Kurt F’s holdings in Cisco Systems were worth $979,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Nicolet Bankshares Inc. lifted its holdings in shares of Cisco Systems by 4.5% during the 3rd quarter. Nicolet Bankshares Inc. now owns 4,977 shares of the network equipment provider’s stock worth $246,000 after acquiring an additional 215 shares during the last quarter. United Capital Management of KS Inc. lifted its stake in Cisco Systems by 1.1% during the third quarter. United Capital Management of KS Inc. now owns 20,885 shares of the network equipment provider’s stock worth $998,000 after purchasing an additional 223 shares during the last quarter. Pacific Center for Financial Services lifted its stake in Cisco Systems by 12.2% during the second quarter. Pacific Center for Financial Services now owns 2,058 shares of the network equipment provider’s stock worth $113,000 after purchasing an additional 224 shares during the last quarter. Cable Hill Partners LLC lifted its stake in Cisco Systems by 1.7% during the third quarter. Cable Hill Partners LLC now owns 13,931 shares of the network equipment provider’s stock worth $688,000 after purchasing an additional 227 shares during the last quarter. Finally, Sigma Investment Counselors Inc. boosted its holdings in shares of Cisco Systems by 4.0% in the 3rd quarter. Sigma Investment Counselors Inc. now owns 5,919 shares of the network equipment provider’s stock worth $292,000 after purchasing an additional 230 shares in the last quarter. 72.55% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:CSCO opened at $48.01 on Thursday. The firm has a market cap of $202.74 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 2.78 and a beta of 1.23. Cisco Systems, Inc. has a fifty-two week low of $43.40 and a fifty-two week high of $58.26. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.70. The business has a 50 day moving average price of $46.45 and a 200-day moving average price of $49.14.

Cisco Systems (NASDAQ:CSCO) last issued 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 company had revenue of $13.16 billion for the quarter, compared to the consensus estimate of $13.09 billion. During the same period in the previous year, the firm earned $0.75 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. Research analysts predict that Cisco Systems, Inc. will post 2.94 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Thursday, January 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 49.12%.

In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $45.19, for a total value of $3,163,300.00. Following the completion of the sale, the chief financial officer now owns 352,587 shares in the company, valued at approximately $15,933,406.53. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Charles Robbins sold 12,597 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $44.81, for a total value of $564,471.57. The disclosure for this sale can be found here. In the last three months, insiders sold 388,864 shares of company stock worth $17,474,321. Insiders own 0.03% of the company’s stock.

CSCO has been the topic of several recent research reports. Credit Suisse Group set a $46.00 price objective on Cisco Systems and gave the company a “neutral” rating in a research report on Thursday, November 14th. Goldman Sachs Group set a $48.00 target price on Cisco Systems and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Piper Jaffray Companies lowered Cisco Systems from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $55.00 to $51.00 in a research note on Monday, November 11th. Robert W. Baird reiterated a “buy” rating and set a $54.00 price target on shares of Cisco Systems in a research report on Monday, November 11th. Finally, UBS Group reissued a “buy” rating and set a $54.00 price target (down from $58.00) on shares of Cisco Systems in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $54.69.

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 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.

Further Reading: Cash Flow

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

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