Flippin Bruce & Porter Inc. Buys 102,481 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Flippin Bruce & Porter Inc. raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 44.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 333,914 shares of the network equipment provider’s stock after buying an additional 102,481 shares during the quarter. Cisco Systems accounts for about 2.8% of Flippin Bruce & Porter Inc.’s portfolio, making the stock its 5th largest position. Flippin Bruce & Porter Inc.’s holdings in Cisco Systems were worth $16,014,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Nicolet Bankshares Inc. grew its stake in Cisco Systems by 4.5% in the third quarter. Nicolet Bankshares Inc. now owns 4,977 shares of the network equipment provider’s stock valued at $246,000 after purchasing an additional 215 shares in the last quarter. Cable Hill Partners LLC grew its stake in Cisco Systems by 1.7% in the third quarter. Cable Hill Partners LLC now owns 13,931 shares of the network equipment provider’s stock valued at $688,000 after purchasing an additional 227 shares in the last quarter. Sigma Investment Counselors Inc. grew its stake in Cisco Systems by 4.0% in the third quarter. Sigma Investment Counselors Inc. now owns 5,919 shares of the network equipment provider’s stock valued at $292,000 after purchasing an additional 230 shares in the last quarter. St. Johns Investment Management Company LLC grew its stake in Cisco Systems by 0.9% in the third quarter. St. Johns Investment Management Company LLC now owns 27,336 shares of the network equipment provider’s stock valued at $1,351,000 after purchasing an additional 233 shares in the last quarter. Finally, Jackson Grant Investment Advisers Inc. grew its stake in Cisco Systems by 4.6% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 5,299 shares of the network equipment provider’s stock valued at $254,000 after purchasing an additional 233 shares in the last quarter. 72.57% of the stock is currently owned by hedge funds and other institutional investors.

CSCO has been the subject of a number of analyst reports. Raymond James decreased their price target on Cisco Systems from $55.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday. KeyCorp raised their price target on Cisco Systems from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Wells Fargo & Co restated a “buy” rating and issued a $58.00 price target (down from $60.00) on shares of Cisco Systems in a research note on Thursday, November 14th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Thursday, November 14th. Finally, Barclays upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and set a $53.00 price target for the company in a research note on Thursday, December 19th. Twelve analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Cisco Systems presently has a consensus rating of “Buy” and an average target price of $54.41.

In related news, CEO Charles Robbins sold 12,597 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $44.81, for a total value of $564,471.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Prat Bhatt sold 39,343 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $44.88, for a total value of $1,765,713.84. Following the completion of the sale, the chief accounting officer now owns 137,634 shares of the company’s stock, valued at $6,177,013.92. The disclosure for this sale can be found here. Insiders sold a total of 388,864 shares of company stock valued at $17,474,321 over the last 90 days. 0.03% of the stock is currently owned by corporate insiders.

Shares of NASDAQ CSCO opened at $47.32 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. Cisco Systems, Inc. has a 12 month low of $43.40 and a 12 month high of $58.26. The stock has a 50 day moving average of $47.96 and a 200-day moving average of $47.93. The company has a market capitalization of $207.32 billion, a P/E ratio of 18.85, a P/E/G ratio of 2.84 and a beta of 1.22.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.01. Cisco Systems had a return on equity of 35.01% and a net margin of 21.15%. The company had revenue of $12 billion during the quarter, compared to the consensus estimate of $11.98 billion. During the same period in the previous year, the company posted $0.73 EPS. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. Analysts predict that Cisco Systems, Inc. will post 2.94 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd will be paid a $0.36 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a yield of 3.04%. Cisco Systems’s payout ratio is 49.12%.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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

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