Kanawha Capital Management LLC Grows Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Kanawha Capital Management LLC lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.3% during the 1st quarter, HoldingsChannel reports. The fund owned 308,254 shares of the network equipment provider’s stock after purchasing an additional 863 shares during the period. Cisco Systems accounts for 1.5% of Kanawha Capital Management LLC’s portfolio, making the stock its 20th biggest position. Kanawha Capital Management LLC’s holdings in Cisco Systems were worth $19,022,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC increased its stake in Cisco Systems by 49.5% during the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after buying an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock worth $542,000 after acquiring an additional 2,474 shares during the last quarter. Versor Investments LP purchased a new stake in shares of Cisco Systems during the fourth quarter worth approximately $314,000. Fisher Asset Management LLC raised its stake in Cisco Systems by 3.2% in the 4th quarter. Fisher Asset Management LLC now owns 201,389 shares of the network equipment provider’s stock valued at $11,922,000 after purchasing an additional 6,333 shares during the last quarter. Finally, LGT Fund Management Co Ltd. lifted its holdings in Cisco Systems by 42.6% in the 4th quarter. LGT Fund Management Co Ltd. now owns 9,187 shares of the network equipment provider’s stock valued at $544,000 after purchasing an additional 2,744 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSCO has been the subject of a number of recent research reports. Evercore ISI increased their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Morgan Stanley reiterated a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Rosenblatt Securities boosted their target price on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. JPMorgan Chase & Co. increased their price target on Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. Finally, New Street Research reissued a “neutral” rating and set a $70.00 price objective on shares of Cisco Systems in a research note on Friday, May 16th. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.53.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total transaction of $571,902.04. Following the sale, the executive vice president owned 174,669 shares of the company’s stock, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the firm’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the transaction, the chief financial officer directly owned 309,543 shares of the company’s stock, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 97,335 shares of company stock valued at $6,271,054. Insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 0.4%

NASDAQ CSCO opened at $69.10 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The stock has a market capitalization of $273.64 billion, a P/E ratio of 28.20, a PEG ratio of 4.15 and a beta of 0.90. The firm’s 50-day moving average is $63.15 and its two-hundred day moving average is $61.25. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.78.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The firm had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same period in the prior year, the business posted $0.88 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 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, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.37%. Cisco Systems’s dividend payout ratio is currently 66.94%.

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.