Adell Harriman & Carpenter Inc. Sells 9,758 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Adell Harriman & Carpenter Inc. lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 175,714 shares of the network equipment provider’s stock after selling 9,758 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Cisco Systems were worth $8,877,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Kathleen S. Wright Associates Inc. purchased a new position in Cisco Systems in the third quarter valued at about $27,000. Valued Wealth Advisors LLC acquired a new stake in Cisco Systems in the fourth quarter valued at approximately $32,000. Morton Brown Family Wealth LLC boosted its stake in Cisco Systems by 41.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 208 shares in the last quarter. Bourgeon Capital Management LLC increased its position in shares of Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 700 shares in the last quarter. Finally, Rakuten Securities Inc. purchased a new stake in shares of Cisco Systems during the 4th quarter valued at $43,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on CSCO shares. Morgan Stanley assumed coverage on Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price on the stock. Barclays upped their price objective on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Melius cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Melius Research reaffirmed a “hold” rating and issued a $55.00 price target on shares of Cisco Systems in a report on Monday, January 8th. Finally, Citigroup began coverage on shares of Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $55.53.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded down $0.08 during trading on Monday, hitting $47.78. 11,482,396 shares of the stock traded hands, compared to its average volume of 19,257,236. The company has a fifty day moving average price of $48.94 and a two-hundred day moving average price of $50.01. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19. The company has a market cap of $193.47 billion, a price-to-earnings ratio of 14.55, a P/E/G ratio of 2.76 and a beta of 0.87. 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 issued its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The business had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. During the same quarter in the prior year, the firm posted $0.76 earnings per share. The company’s revenue was down 5.9% compared to the same quarter last year. As a group, equities analysts predict 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. Shareholders of record on Thursday, April 4th were issued a $0.40 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 3.35%. The ex-dividend date was Wednesday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 48.63%.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The shares were 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 in the company, valued at $2,906,050. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction dated 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 directly owns 58,121 shares in the company, valued at approximately $2,906,050. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction that occurred on 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 disclosure for this sale can be found here. Insiders sold a total of 19,441 shares of company stock valued at $972,080 in the last three months. 0.02% of the stock is currently owned by company insiders.

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.