Cisco Systems, Inc. (NASDAQ:CSCO) Holdings Cut by Pillar Pacific Capital Management LLC

Pillar Pacific Capital Management LLC decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 115,404 shares of the network equipment provider’s stock after selling 2,402 shares during the quarter. Pillar Pacific Capital Management LLC’s holdings in Cisco Systems were worth $5,164,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund lifted its position in Cisco Systems by 78.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,581,559 shares of the network equipment provider’s stock worth $70,775,000 after buying an additional 696,346 shares in the last quarter. Princeton Global Asset Management LLC lifted its position in Cisco Systems by 3.8% in the 4th quarter. Princeton Global Asset Management LLC now owns 66,200 shares of the network equipment provider’s stock worth $2,962,000 after buying an additional 2,404 shares in the last quarter. MainStreet Investment Advisors LLC increased its stake in shares of Cisco Systems by 2.3% during the 4th quarter. MainStreet Investment Advisors LLC now owns 93,766 shares of the network equipment provider’s stock worth $4,196,000 after purchasing an additional 2,065 shares during the last quarter. Marietta Wealth Management LLC increased its stake in shares of Cisco Systems by 1.9% during the 4th quarter. Marietta Wealth Management LLC now owns 68,553 shares of the network equipment provider’s stock worth $3,068,000 after purchasing an additional 1,291 shares during the last quarter. Finally, Premier Fund Managers Ltd acquired a new position in shares of Cisco Systems during the 4th quarter worth $14,141,000. Institutional investors own 70.62% of the company’s stock.

In other news, CAO Prat Bhatt sold 6,273 shares of Cisco Systems stock in a transaction that occurred on Friday, February 12th. The shares were sold at an average price of $47.21, for a total transaction of $296,148.33. Following the completion of the sale, the chief accounting officer now owns 119,282 shares in the company, valued at approximately $5,631,303.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kelly A. Kramer sold 45,000 shares of Cisco Systems stock in a transaction that occurred on Friday, November 27th. The stock was sold at an average price of $42.81, for a total transaction of $1,926,450.00. Following the sale, the chief financial officer now owns 297,078 shares of the company’s stock, valued at approximately $12,717,909.18. The disclosure for this sale can be found here. Insiders sold a total of 75,530 shares of company stock valued at $3,338,858 in the last 90 days. Corporate insiders own 0.02% of the company’s stock.

CSCO stock traded up $0.02 during trading on Tuesday, hitting $45.45. 1,007,545 shares of the stock traded hands, compared to its average volume of 21,138,654. Cisco Systems, Inc. has a one year low of $32.40 and a one year high of $49.34. The stock has a market cap of $191.88 billion, a price-to-earnings ratio of 18.47, a P/E/G ratio of 2.54 and a beta of 0.95. The company has a 50 day simple moving average of $45.85 and a 200 day simple moving average of $42.51. The company has a current ratio of 1.59, a quick ratio of 1.54 and a debt-to-equity ratio of 0.25.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Tuesday, February 9th. The network equipment provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.03. Cisco Systems had a net margin of 21.76% and a return on equity of 32.64%. During the same period in the previous year, the firm posted $0.77 earnings per share. As a group, analysts predict that Cisco Systems, Inc. will post 2.86 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 28th. Shareholders of record on Tuesday, April 6th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.26%. The ex-dividend date is Monday, April 5th. This is a boost from Cisco Systems’s previous quarterly dividend of $0.36. Cisco Systems’s dividend payout ratio (DPR) is presently 49.32%.

Several research analysts have recently commented on CSCO shares. DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Thursday, February 11th. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Friday, November 13th. Citigroup raised their target price on shares of Cisco Systems from $45.00 to $50.00 in a research note on Wednesday, February 10th. Oppenheimer reiterated a “buy” rating and issued a $50.00 target price on shares of Cisco Systems in a research note on Tuesday, February 9th. Finally, Raymond James raised their target price on shares of Cisco Systems from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, February 10th. Sixteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $48.63.

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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