Van Cleef Asset Management Inc Decreases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Van Cleef Asset Management Inc lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 31,633 shares of the network equipment provider’s stock after selling 369 shares during the period. Van Cleef Asset Management Inc’s holdings in Cisco Systems were worth $1,598,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSCO. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Cisco Systems by 2.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,778,542 shares of the network equipment provider’s stock worth $89,852,000 after acquiring an additional 45,800 shares during the period. Syon Capital LLC raised its holdings in shares of Cisco Systems by 16.9% during the 4th quarter. Syon Capital LLC now owns 22,140 shares of the network equipment provider’s stock worth $1,119,000 after acquiring an additional 3,205 shares during the period. Two Point Capital Management Inc. raised its holdings in shares of Cisco Systems by 4.7% during the 4th quarter. Two Point Capital Management Inc. now owns 173,101 shares of the network equipment provider’s stock worth $8,745,000 after acquiring an additional 7,700 shares during the period. Eley Financial Management Inc increased its position in shares of Cisco Systems by 1.2% during the 4th quarter. Eley Financial Management Inc now owns 43,841 shares of the network equipment provider’s stock worth $2,215,000 after purchasing an additional 509 shares during the last quarter. Finally, Lyell Wealth Management LP increased its position in shares of Cisco Systems by 4.4% during the 4th quarter. Lyell Wealth Management LP now owns 25,460 shares of the network equipment provider’s stock worth $1,286,000 after purchasing an additional 1,064 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Down 0.5 %

CSCO stock traded down $0.25 during trading on Thursday, hitting $48.10. 18,775,419 shares of the company’s stock were exchanged, compared to its average volume of 19,411,053. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19. The business has a 50-day moving average price of $48.97 and a two-hundred day moving average price of $50.12. The stock has a market capitalization of $194.77 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 2.79 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The business had revenue of $12.79 billion for the quarter, compared to analyst estimates of $12.71 billion. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, equities research analysts expect that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Wednesday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio is currently 48.63%.

Insider Buying and Selling

In related news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares of the company’s stock, valued at $16,424,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The disclosure for this sale can be found here. Insiders have sold 19,441 shares of company stock valued at $972,080 over the last quarter. Company insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CSCO. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Tuesday, April 9th. JPMorgan Chase & Co. began coverage on Cisco Systems in a research report on Monday. They set a “neutral” rating and a $53.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their price objective on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 9th. Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $55.00 to $60.00 in a research report on Monday, April 15th. Finally, UBS Group lifted their target price on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Cisco Systems has an average rating of “Hold” and a consensus price target of $55.53.

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.