Stewart & Patten Co. LLC Raises Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Stewart & Patten Co. LLC increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 358,995 shares of the network equipment provider’s stock after buying an additional 2,861 shares during the period. Cisco Systems accounts for 2.8% of Stewart & Patten Co. LLC’s portfolio, making the stock its 17th largest position. Stewart & Patten Co. LLC’s holdings in Cisco Systems were worth $18,136,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Kathleen S. Wright Associates Inc. bought a new position in Cisco Systems in the 3rd quarter worth about $27,000. Valued Wealth Advisors LLC bought a new position in shares of Cisco Systems during the 4th quarter valued at about $32,000. Fortis Capital Advisors LLC bought a new position in shares of Cisco Systems during the 4th quarter valued at about $34,000. Hibernia Wealth Partners LLC bought a new position in shares of Cisco Systems during the 3rd quarter valued at about $42,000. Finally, VitalStone Financial LLC bought a new position in shares of Cisco Systems during the 2nd quarter valued at about $45,000. 73.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on CSCO shares. UBS Group increased their price objective on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Melius lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Melius Research restated a “hold” rating and set a $55.00 price target on shares of Cisco Systems in a research report on Monday, January 8th. Barclays raised their price target on Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Finally, StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $56.42.

Get Our Latest Report on CSCO

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the transaction, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the sale, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is owned by insiders.

Cisco Systems Trading Up 0.3 %

CSCO opened at $49.91 on Friday. The stock has a market cap of $202.10 billion, a PE ratio of 15.17, a PEG ratio of 2.25 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. The business has a 50 day moving average of $49.75 and a 200-day moving average of $50.92. Cisco Systems, Inc. has a 52 week low of $45.56 and a 52 week high of $58.19.

Cisco Systems (NASDAQ:CSCOGet Free Report) last announced its quarterly earnings data 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. The business had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.76 earnings per share. Equities research analysts predict that Cisco Systems, Inc. will post 3.16 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be paid a dividend of $0.40 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.21%. Cisco Systems’s payout ratio is presently 47.42%.

Cisco Systems Company Profile

(Free Report)

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.

Further Reading

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

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