Cisco Systems, Inc. (NASDAQ:CSCO) Position Lessened by Spinnaker Investment Group LLC

Spinnaker Investment Group LLC lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 20.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,351 shares of the network equipment provider’s stock after selling 1,391 shares during the quarter. Spinnaker Investment Group LLC’s holdings in Cisco Systems were worth $317,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CSCO. FMR LLC grew its stake in shares of Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after buying an additional 5,885,879 shares in the last quarter. Two Sigma Advisers LP raised its position in Cisco Systems by 327.5% during the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock valued at $362,907,000 after acquiring an additional 5,223,800 shares in the last quarter. Pathway Financial Advisers LLC lifted its stake in Cisco Systems by 5,231.5% in the third quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock valued at $262,646,000 after acquiring an additional 4,842,542 shares during the last quarter. National Bank of Canada FI grew its position in Cisco Systems by 79.6% in the third quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock worth $477,463,000 after acquiring an additional 3,975,028 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Cisco Systems by 1.7% during the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after purchasing an additional 3,241,682 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the sale, the chief financial officer now directly owns 365,314 shares in the company, valued at $21,001,901.86. This represents a 19.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 4,881 shares of Cisco Systems stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total value of $291,542.13. Following the completion of the transaction, the senior vice president now owns 51,931 shares of the company’s stock, valued at approximately $3,101,838.63. The trade was a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock worth $20,349,721 over the last three months. 0.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Citigroup boosted their price target on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Tigress Financial boosted their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their target price for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.50.

Cisco Systems Trading Up 1.0 %

Shares of CSCO stock opened at $62.23 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The firm has a fifty day moving average of $59.04 and a 200-day moving average of $53.86. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $62.32. The stock has a market cap of $247.85 billion, a price-to-earnings ratio of 26.71, a P/E/G ratio of 4.54 and a beta of 0.84.

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

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

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.