Cullinan Associates Inc. Raises Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Cullinan Associates Inc. lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 18.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 360,001 shares of the network equipment provider’s stock after purchasing an additional 55,665 shares during the quarter. Cisco Systems comprises approximately 1.0% of Cullinan Associates Inc.’s investment portfolio, making the stock its 25th biggest position. Cullinan Associates Inc.’s holdings in Cisco Systems were worth $17,968,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Valued Wealth Advisors LLC acquired a new position in Cisco Systems during the 4th quarter worth about $32,000. Delos Wealth Advisors LLC lifted its stake in Cisco Systems by 1,666.7% during the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after acquiring an additional 600 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in Cisco Systems in the 4th quarter valued at about $33,000. Morton Brown Family Wealth LLC raised its position in Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 208 shares in the last quarter. Finally, Bourgeon Capital Management LLC raised its position in Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 700 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the sale, the senior vice president now owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the sale, the senior vice president now owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the sale, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The disclosure for this sale can be found here. Insiders sold a total of 41,106 shares of company stock valued at $1,908,923 over the last quarter. Company insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

CSCO stock traded down $0.51 during midday trading on Tuesday, hitting $47.01. 3,697,715 shares of the stock were exchanged, compared to its average volume of 19,620,842. Cisco Systems, Inc. has a fifty-two week low of $44.95 and a fifty-two week high of $58.19. The stock has a market cap of $189.39 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 2.75 and a beta of 0.85. The stock’s 50-day moving average price is $47.06 and its 200-day moving average price is $48.78. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 earnings per share. Research analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio is currently 53.87%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CSCO. Wells Fargo & Company increased their price target on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, May 16th. JPMorgan Chase & Co. began coverage on Cisco Systems in a research report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price target on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Monday, June 10th. Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and increased their price target for the company from $55.00 to $60.00 in a research report on Monday, April 15th. Finally, StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $56.47.

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.