Cullinan Associates Inc. Increases Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Cullinan Associates Inc. boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 87,712 shares of the network equipment provider’s stock after acquiring an additional 6,880 shares during the quarter. Cullinan Associates Inc.’s holdings in Cisco Systems were worth $5,193,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tempus Wealth Planning LLC raised its position in Cisco Systems by 7.7% in the 4th quarter. Tempus Wealth Planning LLC now owns 22,538 shares of the network equipment provider’s stock valued at $1,334,000 after purchasing an additional 1,620 shares in the last quarter. Flavin Financial Services Inc. acquired a new position in Cisco Systems in the fourth quarter valued at $2,117,000. RBA Wealth Management LLC lifted its position in shares of Cisco Systems by 1.4% during the fourth quarter. RBA Wealth Management LLC now owns 81,135 shares of the network equipment provider’s stock worth $4,803,000 after purchasing an additional 1,091 shares in the last quarter. Patron Partners LLC raised its stake in Cisco Systems by 2.6% during the fourth quarter. Patron Partners LLC now owns 14,312 shares of the network equipment provider’s stock valued at $847,000 after buying an additional 364 shares in the last quarter. Finally, Columbus Macro LLC increased its position in Cisco Systems by 56.2% in the fourth quarter. Columbus Macro LLC now owns 52,828 shares of the network equipment provider’s stock worth $3,127,000 after buying an additional 19,008 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the subject of a number of research reports. Citigroup lifted their target price on shares of Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, January 17th. UBS Group increased their price target on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Barclays upped their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company increased 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. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.72.

Cisco Systems Stock Performance

CSCO opened at $61.04 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $62.31. The business’s 50-day simple moving average is $59.44 and its 200 day simple moving average is $54.58. The firm has a market capitalization of $243.11 billion, a PE ratio of 26.20, a PEG ratio of 4.51 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the business posted $0.98 EPS. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s dividend payout ratio is 68.67%.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the sale, the senior vice president now owns 50,767 shares in the company, valued at $2,979,515.23. This represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the firm’s stock in a transaction 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 directly owns 207,798 shares in the company, valued at approximately $12,299,563.62. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock valued at $20,349,721 over the last ninety days. 0.01% of the stock is currently owned by insiders.

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.