Abbrea Capital LLC Sells 3,205 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Abbrea Capital LLC reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,970 shares of the network equipment provider’s stock after selling 3,205 shares during the period. Abbrea Capital LLC’s holdings in Cisco Systems were worth $2,878,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Cisco Systems by 3.2% during the third quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock valued at $3,069,815,000 after purchasing an additional 1,790,717 shares during the period. Northern Trust Corp increased its holdings in Cisco Systems by 3.8% in the third quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock valued at $2,717,537,000 after purchasing an additional 1,847,682 shares during the last quarter. Invesco Ltd. increased its holdings in Cisco Systems by 3.7% in the third quarter. Invesco Ltd. now owns 33,536,256 shares of the network equipment provider’s stock valued at $1,802,909,000 after purchasing an additional 1,181,327 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Cisco Systems by 25.0% in the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock worth $947,262,000 after acquiring an additional 3,753,165 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Cisco Systems by 3.7% during the third quarter. AQR Capital Management LLC now owns 11,376,937 shares of the network equipment provider’s stock worth $611,624,000 after buying an additional 405,699 shares during the period. 73.33% of the stock is owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the transaction, the executive vice president now owns 191,559 shares in the company, valued at approximately $9,579,865.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the transaction, the executive vice president now owns 191,559 shares in the company, valued at approximately $9,579,865.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the transaction, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The disclosure for this sale can be found here. Insiders sold a total of 19,441 shares of company stock worth $972,080 over the last 90 days. Insiders own 0.02% of the company’s stock.

Cisco Systems Trading Down 0.5 %

Cisco Systems stock traded down $0.24 during trading on Friday, reaching $47.86. The company had a trading volume of 14,561,100 shares, compared to its average volume of 19,352,031. Cisco Systems, Inc. has a 12-month low of $45.56 and a 12-month high of $58.19. The stock’s 50 day moving average price is $48.95 and its two-hundred day moving average price is $50.11. The firm has a market capitalization of $193.79 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 2.79 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37.

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

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were paid a dividend of $0.40 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $1.60 annualized dividend and a yield of 3.34%. Cisco Systems’s payout ratio is presently 48.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Citigroup initiated coverage on Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 price target on the stock. JPMorgan Chase & Co. began coverage on Cisco Systems in a research note on Monday. They issued a “neutral” rating and a $53.00 target price on the stock. UBS Group boosted their price target on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $55.53.

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.