Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Beach Investment Counsel Inc. PA

Beach Investment Counsel Inc. PA trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 16.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 34,918 shares of the network equipment provider’s stock after selling 7,000 shares during the period. Beach Investment Counsel Inc. PA’s holdings in Cisco Systems were worth $2,067,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP increased its position in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares in the last quarter. Czech National Bank boosted its holdings in Cisco Systems by 6.4% in the 3rd quarter. Czech National Bank now owns 820,712 shares of the network equipment provider’s stock valued at $43,678,000 after purchasing an additional 49,100 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Cisco Systems by 19.4% in the 3rd quarter. GAMMA Investing LLC now owns 82,544 shares of the network equipment provider’s stock valued at $4,393,000 after purchasing an additional 13,406 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in Cisco Systems by 2.3% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 39,516 shares of the network equipment provider’s stock valued at $2,103,000 after purchasing an additional 907 shares in the last quarter. Finally, Diversified Trust Co boosted its stake in shares of Cisco Systems by 3.6% during the 3rd quarter. Diversified Trust Co now owns 51,885 shares of the network equipment provider’s stock worth $2,761,000 after acquiring an additional 1,827 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

CSCO opened at $61.05 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $62.31. The company has a fifty day simple moving average of $59.44 and a 200 day simple moving average of $54.58. The stock has a market cap of $243.14 billion, a P/E ratio of 26.20, a P/E/G ratio of 4.51 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 EPS. On average, research analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CSCO shares. UBS Group lifted their price objective on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a research report on Tuesday, January 28th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Finally, Melius raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their target price for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average price target of $62.72.

Insider Activity

In related news, SVP Maria Victoria Wong sold 586 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the sale, the senior vice president now directly owns 50,767 shares in the company, valued at approximately $2,979,515.23. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the sale, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock worth $20,349,721 in the last quarter. Corporate insiders own 0.01% of the company’s stock.

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.