KCM Investment Advisors LLC Cuts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

KCM Investment Advisors LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,505 shares of the network equipment provider’s stock after selling 9,871 shares during the period. KCM Investment Advisors LLC’s holdings in Cisco Systems were worth $8,801,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in CSCO. State Street Corp increased its stake in shares of Cisco Systems by 0.6% in the fourth quarter. State Street Corp now owns 187,545,264 shares of the network equipment provider’s stock valued at $8,994,671,000 after buying an additional 1,132,414 shares in the last quarter. FMR LLC lifted its position in Cisco Systems by 13.1% during the fourth quarter. FMR LLC now owns 36,607,406 shares of the network equipment provider’s stock valued at $1,755,691,000 after purchasing an additional 4,244,954 shares during the period. Loomis Sayles & Co. L P raised its position in shares of Cisco Systems by 3.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 23,480,734 shares of the network equipment provider’s stock worth $1,126,137,000 after acquiring an additional 743,907 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of Cisco Systems by 1.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 18,623,270 shares of the network equipment provider’s stock worth $893,172,000 after acquiring an additional 245,022 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Cisco Systems by 1.6% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,887,544 shares of the network equipment provider’s stock worth $851,626,000 after acquiring an additional 288,013 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have weighed in on CSCO shares. Nomura decreased their price objective on shares of Cisco Systems from $47.00 to $43.00 and set a “neutral” rating for the company in a research report on Monday. Bank of America lowered shares of Cisco Systems from a “buy” rating to a “neutral” rating in a report on Wednesday, January 8th. Zacks Investment Research upgraded shares of Cisco Systems from a “sell” rating to a “hold” rating and set a $50.00 target price on the stock in a report on Wednesday, January 15th. Raymond James reduced their price objective on shares of Cisco Systems from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Edward Jones upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. Twelve analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $52.64.

Shares of NASDAQ CSCO traded up $1.59 during mid-day trading on Thursday, reaching $39.26. The company had a trading volume of 2,316,303 shares, compared to its average volume of 49,812,412. The company has a current ratio of 1.81, a quick ratio of 1.75 and a debt-to-equity ratio of 0.41. The firm has a 50 day simple moving average of $42.12 and a two-hundred day simple moving average of $45.95. The stock has a market cap of $163.70 billion, a P/E ratio of 15.33, a PEG ratio of 2.44 and a beta of 1.23. Cisco Systems, Inc. has a 52-week low of $32.40 and a 52-week high of $58.26.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.01. Cisco Systems had a net margin of 21.44% and a return on equity of 36.40%. The company had revenue of $12 billion for the quarter, compared to the consensus estimate of $11.98 billion. During the same period last year, the firm posted $0.73 EPS. Cisco Systems’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities analysts expect that Cisco Systems, Inc. will post 2.93 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd will be paid a dividend of $0.36 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Thursday, April 2nd. Cisco Systems’s payout ratio is currently 49.12%.

In related news, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $41.17, for a total value of $2,881,900.00. Following the completion of the transaction, the chief financial officer now owns 308,241 shares in the company, valued at approximately $12,690,281.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Robbins sold 3,910 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $46.53, for a total transaction of $181,932.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,910 shares of company stock valued at $3,296,482. 0.03% of the stock is owned by insiders.

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 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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