Abbrea Capital LLC Grows Position in Cisco Systems, Inc. (CSCO)

Abbrea Capital LLC boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,811 shares of the network equipment provider’s stock after purchasing an additional 1,527 shares during the quarter. Cisco Systems comprises 1.1% of Abbrea Capital LLC’s investment portfolio, making the stock its 29th largest holding. Abbrea Capital LLC’s holdings in Cisco Systems were worth $3,391,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Cetera Advisors LLC grew its stake in shares of Cisco Systems by 1.4% during the 1st quarter. Cetera Advisors LLC now owns 78,073 shares of the network equipment provider’s stock worth $3,350,000 after purchasing an additional 1,106 shares during the period. FCG Advisors LLC grew its stake in shares of Cisco Systems by 7.9% during the 1st quarter. FCG Advisors LLC now owns 15,574 shares of the network equipment provider’s stock worth $668,000 after purchasing an additional 1,140 shares during the period. Neumann Capital Management LLC grew its stake in shares of Cisco Systems by 6.8% during the 1st quarter. Neumann Capital Management LLC now owns 18,437 shares of the network equipment provider’s stock worth $791,000 after purchasing an additional 1,167 shares during the period. Ballast Inc. grew its stake in shares of Cisco Systems by 6.6% during the 1st quarter. Ballast Inc. now owns 18,810 shares of the network equipment provider’s stock worth $807,000 after purchasing an additional 1,172 shares during the period. Finally, Peachtree Investment Advisors Inc. grew its stake in shares of Cisco Systems by 2.7% during the 2nd quarter. Peachtree Investment Advisors Inc. now owns 44,093 shares of the network equipment provider’s stock worth $1,897,000 after purchasing an additional 1,175 shares during the period. Hedge funds and other institutional investors own 71.52% of the company’s stock.

A number of research firms have recently weighed in on CSCO. Zacks Investment Research cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. BidaskClub raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. William Blair reaffirmed an “outperform” rating on shares of Cisco Systems in a research note on Thursday, August 16th. Piper Jaffray Companies set a $53.00 price target on shares of Cisco Systems and gave the stock an “overweight” rating in a research note on Monday, October 1st. Finally, Loop Capital reaffirmed a “hold” rating and set a $47.00 price target on shares of Cisco Systems in a research note on Monday, August 20th. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $48.76.

In other news, EVP Mark D. Chandler sold 31,842 shares of the stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $47.20, for a total transaction of $1,502,942.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Charles Robbins sold 217,420 shares of the stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $47.28, for a total transaction of $10,279,617.60. The disclosure for this sale can be found here. Insiders have sold a total of 450,620 shares of company stock worth $21,322,282 over the last ninety days. 0.03% of the stock is owned by corporate insiders.

Cisco Systems stock opened at $48.44 on Friday. Cisco Systems, Inc. has a 12-month low of $33.67 and a 12-month high of $49.47. The stock has a market cap of $224.01 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 2.75 and a beta of 1.11. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.22 and a current ratio of 2.29.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.01. Cisco Systems had a net margin of 0.22% and a return on equity of 22.12%. The company had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.76 billion. During the same period last year, the company earned $0.61 EPS. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, equities research analysts expect that Cisco Systems, Inc. will post 2.67 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 24th. Shareholders of record on Friday, October 5th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $1.32 annualized dividend and a dividend yield of 2.73%. Cisco Systems’s dividend payout ratio is currently 56.41%.

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Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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

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