Douglas Lane & Associates LLC Has $9.87 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Douglas Lane & Associates LLC lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 166,691 shares of the network equipment provider’s stock after selling 16,039 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Cisco Systems were worth $9,868,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Lantz Financial LLC boosted its position in shares of Cisco Systems by 1.2% during the 2nd quarter. Lantz Financial LLC now owns 60,993 shares of the network equipment provider’s stock valued at $2,898,000 after purchasing an additional 736 shares in the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of Cisco Systems by 3,269.4% during the 2nd quarter. Strategic Financial Concepts LLC now owns 150,172 shares of the network equipment provider’s stock worth $68,000 after buying an additional 145,715 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Cisco Systems in the 2nd quarter valued at $62,000. Carson Advisory Inc. increased its stake in shares of Cisco Systems by 8.4% in the 2nd quarter. Carson Advisory Inc. now owns 6,428 shares of the network equipment provider’s stock valued at $305,000 after acquiring an additional 499 shares in the last quarter. Finally, Angeles Wealth Management LLC boosted its stake in Cisco Systems by 9.6% during the second quarter. Angeles Wealth Management LLC now owns 14,837 shares of the network equipment provider’s stock worth $705,000 after acquiring an additional 1,305 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 58,188 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $3,345,228.12. Following the completion of the transaction, the executive vice president now owns 219,100 shares in the company, valued at $12,596,059. This trade represents a 20.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock worth $20,349,721 in the last quarter. Insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CSCO. Citigroup upped their price objective on shares of Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Morgan Stanley increased their price target on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Evercore ISI boosted their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. UBS Group increased their target price on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Finally, Bank of America boosted their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.28.

Cisco Systems Stock Performance

Shares of CSCO opened at $59.20 on Thursday. The stock has a 50 day moving average of $58.51 and a 200 day moving average of $52.97. The company has a market capitalization of $235.78 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 4.37 and a beta of 0.84. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $60.23. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

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

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s payout ratio is 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.