Patton Fund Management Inc. Purchases 100,329 Shares of Cisco Systems, Inc. $CSCO

Patton Fund Management Inc. grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2,583.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,213 shares of the network equipment provider’s stock after buying an additional 100,329 shares during the period. Cisco Systems makes up 1.1% of Patton Fund Management Inc.’s holdings, making the stock its 22nd biggest position. Patton Fund Management Inc.’s holdings in Cisco Systems were worth $8,028,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CSCO. Brighton Jones LLC increased its position in Cisco Systems by 49.5% during the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after buying an additional 24,562 shares during the period. Revolve Wealth Partners LLC increased its position in Cisco Systems by 37.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock worth $542,000 after buying an additional 2,474 shares during the period. Sivia Capital Partners LLC increased its position in Cisco Systems by 7.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 10,178 shares of the network equipment provider’s stock worth $706,000 after buying an additional 712 shares during the period. Schnieders Capital Management LLC. increased its position in Cisco Systems by 3.9% during the 2nd quarter. Schnieders Capital Management LLC. now owns 13,974 shares of the network equipment provider’s stock worth $969,000 after buying an additional 519 shares during the period. Finally, Marshall Wace LLP increased its position in Cisco Systems by 118.1% during the 2nd quarter. Marshall Wace LLP now owns 90,650 shares of the network equipment provider’s stock worth $6,289,000 after buying an additional 590,650 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $82.35 on Tuesday. The stock’s 50-day simple moving average is $79.77 and its 200 day simple moving average is $76.33. The firm has a market capitalization of $325.27 billion, a PE ratio of 28.89, a price-to-earnings-growth ratio of 3.10 and a beta of 0.83. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45. Cisco Systems, Inc. has a twelve month low of $53.83 and a twelve month high of $88.18.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.02. The business had revenue of $15.35 billion for the quarter, compared to analyst estimates of $15.11 billion. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.Cisco Systems’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $0.94 earnings per share. On average, analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.0%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, April 2nd. Cisco Systems’s payout ratio is 58.95%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Citigroup increased their price objective on Cisco Systems from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. President Capital lowered their price objective on Cisco Systems from $90.00 to $88.00 in a research report on Wednesday, December 24th. BNP Paribas Exane increased their target price on Cisco Systems from $86.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Evercore raised Cisco Systems from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $100.00 in a report on Monday, January 26th. Finally, CICC Research increased their target price on Cisco Systems from $84.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and an average price target of $89.76.

Insiders Place Their Bets

In related news, EVP Thimaya K. Subaiya sold 1,744 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $77.07, for a total value of $134,410.08. Following the sale, the executive vice president directly owned 156,693 shares of the company’s stock, valued at $12,076,329.51. This trade represents a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 19,545 shares of the firm’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $76.00, for a total value of $1,485,420.00. Following the completion of the sale, the chief executive officer directly owned 671,095 shares in the company, valued at $51,003,220. This trade represents a 2.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 46,431 shares of company stock valued at $3,574,820 over the last ninety days. 0.01% of the stock is owned by insiders.

Cisco Systems Company Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.