Beach Investment Counsel Inc. PA Lowers Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Beach Investment Counsel Inc. PA reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 16.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,918 shares of the network equipment provider’s stock after selling 7,000 shares during the quarter. Beach Investment Counsel Inc. PA’s holdings in Cisco Systems were worth $2,067,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Morse Asset Management Inc bought a new position in Cisco Systems in the 3rd quarter worth about $798,000. HighVista Strategies LLC purchased a new position in shares of Cisco Systems during the 3rd quarter valued at about $1,698,000. GAMMA Investing LLC raised its holdings in shares of Cisco Systems by 13.1% during the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock valued at $5,527,000 after buying an additional 10,813 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in shares of Cisco Systems by 10.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock valued at $88,261,000 after buying an additional 162,544 shares in the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new position in shares of Cisco Systems during the 3rd quarter valued at about $502,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 3,042 shares of Cisco Systems stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the transaction, the executive vice president now owns 207,798 shares in the company, valued at approximately $12,299,563.62. The trade was a 1.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. The trade was a 17.97 % 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 in the last quarter. 0.01% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on CSCO. UBS Group lifted their price target on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Morgan Stanley boosted their target price on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Tigress Financial boosted their target price on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average target price of $62.72.

Cisco Systems Trading Up 0.0 %

Cisco Systems stock opened at $61.05 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $62.31. The stock has a market capitalization of $243.14 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 4.51 and a beta of 0.84. The business’s fifty day moving average is $59.44 and its 200 day moving average is $54.58.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations 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 was down 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.98 earnings per share. On average, sell-side analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 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.