Agate Pass Investment Management LLC Acquires 12,606 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Agate Pass Investment Management LLC grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 29.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,374 shares of the network equipment provider’s stock after acquiring an additional 12,606 shares during the period. Cisco Systems accounts for about 1.5% of Agate Pass Investment Management LLC’s investment portfolio, making the stock its 19th biggest position. Agate Pass Investment Management LLC’s holdings in Cisco Systems were worth $3,278,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of CSCO. Quest Partners LLC bought a new position in Cisco Systems in the second quarter valued at approximately $62,000. Diversify Wealth Management LLC acquired a new position in Cisco Systems in the second quarter valued at about $2,375,000. Wilkins Investment Counsel Inc. increased its stake in shares of Cisco Systems by 2.8% in the 2nd quarter. Wilkins Investment Counsel Inc. now owns 77,781 shares of the network equipment provider’s stock valued at $3,695,000 after acquiring an additional 2,135 shares during the last quarter. Rock Point Advisors LLC boosted its stake in Cisco Systems by 66.1% during the 2nd quarter. Rock Point Advisors LLC now owns 192,910 shares of the network equipment provider’s stock worth $9,165,000 after acquiring an additional 76,784 shares during the last quarter. Finally, Providence Wealth Advisors LLC raised its holdings in Cisco Systems by 1.4% in the second quarter. Providence Wealth Advisors LLC now owns 23,718 shares of the network equipment provider’s stock worth $1,128,000 after purchasing an additional 330 shares during the period. 73.33% of the stock is owned by institutional investors.

Insider Activity at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 21,230 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the transaction, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. The trade was a 9.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kristina M. Johnson sold 7,500 shares of Cisco Systems stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $59.87, for a total transaction of $449,025.00. Following the completion of the sale, the director now directly owns 65,915 shares in the company, valued at approximately $3,946,331.05. This represents a 10.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is owned by insiders.

Cisco Systems Stock Down 0.0 %

CSCO traded down $0.02 during midday trading on Monday, hitting $58.72. The company had a trading volume of 6,276,580 shares, compared to its average volume of 15,452,161. The stock’s 50 day moving average price is $58.67 and its 200 day moving average price is $53.18. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $60.23. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $233.87 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 4.37 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Cisco Systems’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 earnings per share. On average, research analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Wells Fargo & Company raised their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Tigress Financial boosted their price objective on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Evercore ISI lifted their price target on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.28.

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 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.