Cohen Capital Management Inc. Raises Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Cohen Capital Management Inc. boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 218,967 shares of the network equipment provider’s stock after purchasing an additional 1,501 shares during the quarter. Cisco Systems makes up 1.9% of Cohen Capital Management Inc.’s portfolio, making the stock its 13th biggest position. Cohen Capital Management Inc.’s holdings in Cisco Systems were worth $10,929,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CSCO. Valued Wealth Advisors LLC purchased a new position in Cisco Systems during the 4th quarter valued at about $32,000. Delos Wealth Advisors LLC increased its stake in shares of Cisco Systems by 1,666.7% during the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after purchasing an additional 600 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $33,000. Morton Brown Family Wealth LLC boosted its position in shares of Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares in the last quarter. Finally, Bourgeon Capital Management LLC grew its stake in shares of Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after buying an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO traded up $0.49 during midday trading on Thursday, hitting $46.76. 19,741,432 shares of the company’s stock traded hands, compared to its average volume of 19,592,980. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The stock has a market capitalization of $188.39 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 2.67 and a beta of 0.85. The firm has a fifty day moving average of $46.89 and a 200 day moving average of $48.60. Cisco Systems, Inc. has a 1 year low of $44.95 and a 1 year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same period last year, the firm earned $0.88 earnings per share. The company’s quarterly revenue was down 12.8% on a year-over-year basis. On average, analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Friday, July 5th. Cisco Systems’s payout ratio is 53.87%.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the sale, the executive vice president now owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the sale, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at approximately $33,439,234.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,106 shares of company stock worth $1,908,923. 0.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on Cisco Systems in a research note on Monday, April 22nd. They set a “neutral” rating and a $53.00 price objective for the company. BNP Paribas raised Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research report on Monday, May 13th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. Morgan Stanley started coverage on shares of Cisco Systems in a report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price for the company. Finally, Oppenheimer increased their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $56.47.

Cisco Systems 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.