Gemmer Asset Management LLC Purchases 470 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Gemmer Asset Management LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,965 shares of the network equipment provider’s stock after buying an additional 470 shares during the period. Gemmer Asset Management LLC’s holdings in Cisco Systems were worth $590,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Seven Eight Capital LP purchased a new position in shares of Cisco Systems in the second quarter worth $242,000. Sei Investments Co. increased its holdings in Cisco Systems by 13.7% in the 2nd quarter. Sei Investments Co. now owns 2,041,220 shares of the network equipment provider’s stock valued at $96,984,000 after acquiring an additional 245,780 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in Cisco Systems by 18.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 223,121 shares of the network equipment provider’s stock worth $10,600,000 after purchasing an additional 35,302 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Cisco Systems by 27.5% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 220,894 shares of the network equipment provider’s stock valued at $10,495,000 after purchasing an additional 47,590 shares during the last quarter. Finally, Holderness Investments Co. grew its position in shares of Cisco Systems by 0.3% during the second quarter. Holderness Investments Co. now owns 85,215 shares of the network equipment provider’s stock valued at $4,049,000 after purchasing an additional 283 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $60.23 on Monday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $60.95. The company has a market capitalization of $239.88 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The stock’s fifty day moving average is $58.91 and its two-hundred day moving average is $53.57. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate 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 was down 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 EPS. As a group, analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.66%. Cisco Systems’s payout ratio is 68.67%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CSCO. Bank of America boosted their target price on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Tigress Financial upped 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. Citigroup raised their target price on shares of Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a report on Friday. Wells Fargo & Company upped their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $61.50.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 4,881 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 51,931 shares of the company’s stock, valued at approximately $3,101,838.63. This represents a 8.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the transaction, the executive vice president now directly owns 213,834 shares in the company, valued at approximately $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock worth $20,349,721 in the last ninety days. 0.01% of the stock is owned by company insiders.

Cisco Systems Company 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.