Cisco Systems, Inc. (NASDAQ:CSCO) is Prentiss Smith & Co. Inc.’s 2nd Largest Position

Prentiss Smith & Co. Inc. lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.0% during the fourth quarter, HoldingsChannel reports. The fund owned 143,248 shares of the network equipment provider’s stock after selling 1,474 shares during the period. Cisco Systems accounts for about 5.6% of Prentiss Smith & Co. Inc.’s investment portfolio, making the stock its 2nd biggest holding. Prentiss Smith & Co. Inc.’s holdings in Cisco Systems were worth $8,480,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CSCO. Allen Capital Group LLC boosted its position in shares of Cisco Systems by 6.5% in the 4th quarter. Allen Capital Group LLC now owns 86,607 shares of the network equipment provider’s stock valued at $5,127,000 after purchasing an additional 5,285 shares during the period. Masso Torrence Wealth Management Inc. boosted its holdings in shares of Cisco Systems by 3.7% in the fourth quarter. Masso Torrence Wealth Management Inc. now owns 8,313 shares of the network equipment provider’s stock valued at $492,000 after acquiring an additional 294 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of Cisco Systems by 3.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,021,801 shares of the network equipment provider’s stock valued at $238,091,000 after acquiring an additional 144,803 shares during the period. Twelve Points Wealth Management LLC raised its position in Cisco Systems by 12.7% in the 4th quarter. Twelve Points Wealth Management LLC now owns 50,493 shares of the network equipment provider’s stock valued at $2,989,000 after purchasing an additional 5,702 shares during the last quarter. Finally, Gateway Wealth Partners LLC boosted its stake in Cisco Systems by 13.6% during the 4th quarter. Gateway Wealth Partners LLC now owns 5,541 shares of the network equipment provider’s stock worth $328,000 after purchasing an additional 665 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 1.1 %

Shares of CSCO stock traded up $0.63 on Wednesday, hitting $60.06. The stock had a trading volume of 1,564,429 shares, compared to its average volume of 18,315,537. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $62.31. The firm has a market capitalization of $239.19 billion, a price-to-earnings ratio of 25.78, a P/E/G ratio of 4.59 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The stock’s 50 day moving average is $59.30 and its 200-day moving average is $54.32.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, research analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.66%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Tigress Financial upped their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Barclays upped their price objective on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $55.00 to $66.00 in a report on Monday, November 11th. Morgan Stanley increased their price target on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Citigroup upped their price objective on shares of Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.72.

Insider Activity at Cisco Systems

In other news, CFO Richard Scott Herren sold 86,351 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $4,964,318.99. Following the transaction, the chief financial officer now directly owns 365,314 shares in the company, valued at approximately $21,001,901.86. This trade represents a 19.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the sale, the executive vice president now owns 213,834 shares in the company, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock valued at $20,349,721 over the last ninety days. Corporate insiders own 0.01% of the company’s stock.

About Cisco Systems

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.