Suncoast Equity Management Raises Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Suncoast Equity Management lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 26,778 shares of the network equipment provider’s stock after acquiring an additional 790 shares during the quarter. Suncoast Equity Management’s holdings in Cisco Systems were worth $1,353,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp lifted its stake in shares of Cisco Systems by 2.2% in the first quarter. State Street Corp now owns 184,879,450 shares of the network equipment provider’s stock worth $9,664,544,000 after acquiring an additional 4,061,022 shares in the last quarter. Morgan Stanley lifted its stake in shares of Cisco Systems by 17.4% in the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock worth $2,943,593,000 after acquiring an additional 9,160,347 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in shares of Cisco Systems by 112,307.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock worth $2,835,509,000 after acquiring an additional 59,466,550 shares in the last quarter. FMR LLC raised its stake in 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 buying an additional 1,790,717 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Cisco Systems by 6.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock valued at $2,975,139,000 after buying an additional 3,087,294 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity

In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the sale, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CSCO shares. Wells Fargo & Company started coverage on Cisco Systems in a research note on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price objective on the stock. Citigroup started coverage on Cisco Systems in a research report on Friday. They set a “neutral” rating and a $52.00 price target on the stock. StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. UBS Group increased 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 increased their price target on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $56.03.

Cisco Systems Stock Down 0.1 %

Shares of CSCO traded down $0.07 during mid-day trading on Tuesday, reaching $48.17. The company’s stock had a trading volume of 4,341,391 shares, compared to its average volume of 19,510,371. The business has a fifty day moving average of $49.22 and a 200 day moving average of $50.37. The company has a market cap of $195.05 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 2.78 and a beta of 0.87. Cisco Systems, Inc. has a 1 year low of $45.56 and a 1 year high of $58.19. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14.

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 company had revenue of $12.79 billion during the quarter, compared to analyst estimates of $12.71 billion. During the same quarter in the prior year, the company earned $0.76 earnings per share. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, analysts forecast that Cisco Systems, Inc. will post 3.15 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be given a $0.40 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Wednesday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 48.63%.

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.