Cadinha & Co. LLC Takes $13.89 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Cadinha & Co. LLC bought a new stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 234,554 shares of the network equipment provider's stock, valued at approximately $13,886,000. Cisco Systems comprises 2.3% of Cadinha & Co. LLC's investment portfolio, making the stock its 22nd biggest position.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its position in Cisco Systems by 1.7% in the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider's stock valued at $10,297,506,000 after purchasing an additional 3,241,682 shares during the period. Geode Capital Management LLC increased its position in shares of Cisco Systems by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider's stock worth $5,075,320,000 after purchasing an additional 1,262,017 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Cisco Systems by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider's stock valued at $4,402,239,000 after buying an additional 1,677,383 shares during the last quarter. FMR LLC boosted its stake in Cisco Systems by 10.1% during the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider's stock worth $3,402,432,000 after buying an additional 5,885,879 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Cisco Systems by 3.3% during the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider's stock valued at $2,261,185,000 after acquiring an additional 1,530,468 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction dated Thursday, December 12th. The stock was 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 owns 50,767 shares in the company, valued at approximately $2,979,515.23. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the firm's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value 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. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 353,522 shares of company stock valued at $20,349,721. Company insiders own 0.01% of the company's stock.

Cisco Systems Trading Up 0.7 %

Shares of NASDAQ:CSCO traded up $0.41 during midday trading on Friday, reaching $60.23. The company's stock had a trading volume of 23,800,968 shares, compared to its average volume of 17,184,370. The firm has a market cap of $239.88 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The business has a 50 day moving average price of $58.91 and a 200 day moving average price of $53.57. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $60.95. 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 (NASDAQ:CSCO - Get Free Report) last posted 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. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter in the prior year, the company posted $0.98 EPS. The company's quarterly revenue was down 5.6% compared to the same quarter last year. Research analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems's payout ratio is currently 68.67%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 14th. Barclays lifted 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. Melius upgraded Cisco Systems from a "hold" rating to a "buy" rating and raised their target price for the company from $66.00 to $73.00 in a report on Monday, January 6th. Tigress Financial increased their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Finally, UBS Group boosted their target price on Cisco Systems from $55.00 to $62.00 and gave the stock a "neutral" rating in a research note on Thursday, November 14th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of "Moderate Buy" and an average price target of $61.50.

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 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.