Cisco Systems, Inc. (NASDAQ:CSCO) is Wedge Capital Management L L P NC’s 10th Largest Position

Wedge Capital Management L L P NC grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 14,975.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,119,535 shares of the network equipment provider’s stock after acquiring an additional 1,112,109 shares during the period. Cisco Systems accounts for 1.2% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 10th biggest holding. Wedge Capital Management L L P NC’s holdings in Cisco Systems were worth $66,276,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. West Financial Advisors LLC increased 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 increased its position in Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after buying an additional 260 shares during the last quarter. Quarry LP raised 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 valued at $31,000 after buying an additional 456 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of Cisco Systems during the 3rd quarter worth about $40,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Cisco Systems during the 4th quarter valued at about $49,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of recent analyst reports. Tigress Financial upped their target price on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Citigroup lifted their target price on shares of Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and upped their price target for the company from $55.00 to $66.00 in a report on Monday, November 11th. Bank of America lifted their price objective on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Morgan Stanley increased their target price on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $61.50.

Insider Activity

In related news, CFO Richard Scott Herren sold 86,351 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 365,314 shares of the company’s stock, valued at $21,001,901.86. This trade represents a 19.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. This represents a 17.97 % 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 worth $20,349,721. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO opened at $60.23 on Friday. The stock has a market capitalization 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’s fifty day moving average price is $58.87 and its two-hundred day moving average price is $53.43. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $60.95. 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) 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. 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 revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the company posted $0.98 EPS. As a group, analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

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

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.