Sigma Investment Counselors Inc. Lowers Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Sigma Investment Counselors Inc. decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,469 shares of the network equipment provider’s stock after selling 450 shares during the period. Sigma Investment Counselors Inc.’s holdings in Cisco Systems were worth $262,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CSCO. First Trust Advisors LP boosted its holdings in shares of Cisco Systems by 155.6% in the 3rd quarter. First Trust Advisors LP now owns 17,446,107 shares of the network equipment provider’s stock valued at $862,012,000 after purchasing an additional 10,621,798 shares during the last quarter. Parnassus Investments CA purchased a new position in shares of Cisco Systems in the 3rd quarter worth $444,882,000. Massachusetts Financial Services Co. MA raised its position in shares of Cisco Systems by 13.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 21,589,214 shares of the network equipment provider’s stock worth $1,066,724,000 after buying an additional 2,496,113 shares during the period. California Public Employees Retirement System boosted its holdings in Cisco Systems by 13.2% in the third quarter. California Public Employees Retirement System now owns 15,745,642 shares of the network equipment provider’s stock valued at $777,992,000 after acquiring an additional 1,836,457 shares during the last quarter. Finally, Johanson Financial Advisors Inc. boosted its holdings in Cisco Systems by 4,846.0% in the fourth quarter. Johanson Financial Advisors Inc. now owns 1,441,771 shares of the network equipment provider’s stock valued at $30,062,000 after acquiring an additional 1,412,621 shares during the last quarter. 72.62% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:CSCO opened at $48.80 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 1.70 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average is $46.91 and its two-hundred day moving average is $48.95. Cisco Systems, Inc. has a 52 week low of $43.40 and a 52 week high of $58.26. The company has a market cap of $207.96 billion, a PE ratio of 19.44, a P/E/G ratio of 2.85 and a beta of 1.23.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. Cisco Systems had a return on equity of 35.01% and a net margin of 21.15%. The company had revenue of $13.16 billion during the quarter, compared to analyst estimates of $13.09 billion. During the same quarter last year, the firm earned $0.75 EPS. The business’s revenue was up .7% on a year-over-year basis. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.94 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Thursday, January 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 49.12%.

In other news, CAO Prat Bhatt sold 39,343 shares of Cisco Systems stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $44.88, for a total value of $1,765,713.84. Following the completion of the transaction, the chief accounting officer now directly owns 137,634 shares of the company’s stock, valued at approximately $6,177,013.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Robbins sold 12,597 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $44.81, for a total transaction of $564,471.57. The disclosure for this sale can be found here. Insiders have sold 388,864 shares of company stock worth $17,474,321 over the last 90 days. 0.03% of the stock is currently owned by company insiders.

Several equities research analysts have commented on CSCO shares. Evercore ISI restated a “buy” rating on shares of Cisco Systems in a research note on Sunday, December 15th. Bank of America lowered Cisco Systems from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 8th. Barclays raised Cisco Systems from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective on the stock in a research note on Thursday, December 19th. Zacks Investment Research upgraded Cisco Systems from a “sell” rating to a “hold” rating and set a $50.00 target price for the company in a report on Wednesday, January 15th. Finally, ValuEngine raised shares of Cisco Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. Thirteen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $54.78.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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