Cullinan Associates Inc. Grows Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Cullinan Associates Inc. grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 8.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 87,712 shares of the network equipment provider's stock after purchasing an additional 6,880 shares during the quarter. Cullinan Associates Inc.'s holdings in Cisco Systems were worth $5,193,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Quarry LP lifted its holdings in 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 buying an additional 456 shares during the period. West Financial Advisors LLC lifted its stake in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock worth $31,000 after purchasing an additional 309 shares during the last quarter. Highline Wealth Partners LLC grew its stake in Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock valued at $35,000 after purchasing an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in Cisco Systems in the third quarter worth about $40,000. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Cisco Systems during the fourth quarter valued at about $49,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Price Performance

Shares of NASDAQ CSCO remained flat at $62.27 during midday trading on Friday. 23,859,464 shares of the stock traded hands, compared to its average volume of 18,856,992. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $63.25. The company's 50-day moving average price is $59.65 and its two-hundred day moving average price is $54.87. The stock has a market capitalization of $248.01 billion, a price-to-earnings ratio of 26.73, a price-to-earnings-growth ratio of 4.51 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company's quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Friday, January 3rd. Cisco Systems's payout ratio is presently 68.67%.

Analysts Set New Price Targets

CSCO has been the topic of several analyst reports. Tigress Financial lifted their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, October 14th. BNP Paribas upgraded 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 note on Tuesday, January 28th. Morgan Stanley lifted their target price on Cisco Systems from $62.00 to $68.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Citigroup boosted their price objective on Cisco Systems from $64.00 to $68.00 and gave the company a "buy" rating in a report on Friday, January 17th. Finally, Melius raised Cisco Systems from a "hold" rating to a "buy" rating and boosted their price target for the company from $66.00 to $73.00 in a report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of "Moderate Buy" and an average price target of $62.72.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 783,786 shares of the company's stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Victoria Wong sold 586 shares of the 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 transaction, the senior vice president now owns 50,767 shares in the company, valued at approximately $2,979,515.23. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by corporate insiders.

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.