Abbot Financial Management Inc. Has $3.81 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Abbot Financial Management Inc. decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 64,289 shares of the network equipment provider’s stock after selling 444 shares during the period. Cisco Systems makes up 1.9% of Abbot Financial Management Inc.’s portfolio, making the stock its 11th largest position. Abbot Financial Management Inc.’s holdings in Cisco Systems were worth $3,806,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Mainstream Capital Management LLC acquired a new stake in shares of Cisco Systems during the fourth quarter worth about $132,000. Morse Asset Management Inc bought a new position in Cisco Systems in the third quarter valued at approximately $798,000. HighVista Strategies LLC acquired a new position in shares of Cisco Systems in the third quarter valued at approximately $1,698,000. GAMMA Investing LLC increased its position in shares of Cisco Systems by 13.1% during the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after acquiring an additional 10,813 shares in the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new stake in shares of Cisco Systems during the third quarter worth $502,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CSCO shares. The Goldman Sachs Group lifted their price target on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price on the stock in a research note on Tuesday, January 28th. StockNews.com cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Wells Fargo & Company boosted their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 13th. Finally, DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.63.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 19,929 shares of Cisco Systems stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $1,283,626.89. Following the completion of the sale, the chief financial officer now owns 335,605 shares in the company, valued at $21,616,318.05. The trade was a 5.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the sale, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at $47,413,489.20. This represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,848 shares of company stock valued at $4,767,206 in the last ninety days. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Trading Down 0.3 %

CSCO stock opened at $63.26 on Wednesday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The stock has a market cap of $251.67 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84. The company has a fifty day moving average price of $61.39 and a two-hundred day moving average price of $57.16. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.59%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 71.62%.

Cisco Systems announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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.