Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Fulton Breakefield Broenniman LLC

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Fulton Breakefield Broenniman LLC lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.9% in the fourth quarter, HoldingsChannel reports. The fund owned 177,651 shares of the network equipment provider’s stock after selling 1,674 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in Cisco Systems were worth $8,520,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Cordasco Financial Network raised its position in shares of Cisco Systems by 78.4% during the third quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock worth $56,000 after purchasing an additional 502 shares during the period. Candriam Luxembourg S.C.A. raised its position in shares of Cisco Systems by 21.1% during the third quarter. Candriam Luxembourg S.C.A. now owns 1,483,927 shares of the network equipment provider’s stock worth $75,000 after purchasing an additional 258,073 shares during the period. Larson Financial Group LLC raised its position in shares of Cisco Systems by 408.5% during the third quarter. Larson Financial Group LLC now owns 1,561 shares of the network equipment provider’s stock worth $77,000 after purchasing an additional 1,254 shares during the period. Phocas Financial Corp. acquired a new stake in shares of Cisco Systems during the second quarter worth $82,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Cisco Systems during the second quarter worth $89,000. Institutional investors own 72.55% of the company’s stock.

NASDAQ:CSCO opened at $47.79 on Wednesday. The firm has a market capitalization of $199.94 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 2.74 and a beta of 1.23. Cisco Systems, Inc. has a 1-year low of $43.00 and a 1-year high of $58.26. The company has a current ratio of 1.70, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. The business’s fifty day moving average price is $46.40 and its 200 day moving average price is $49.18.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. The firm had revenue of $13.16 billion for the quarter, compared to analyst estimates of $13.09 billion. Cisco Systems had a return on equity of 35.01% and a net margin of 21.15%. Cisco Systems’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 earnings per share. Equities analysts forecast that Cisco Systems, Inc. will post 2.94 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.93%. The ex-dividend date is Thursday, January 2nd. Cisco Systems’s payout ratio is 49.12%.

In related news, CAO Prat Bhatt sold 39,343 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $44.88, for a total transaction of $1,765,713.84. Following the transaction, the chief accounting officer now directly owns 137,634 shares of the company’s stock, valued at $6,177,013.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $45.19, for a total value of $3,163,300.00. Following the completion of the transaction, the chief financial officer now owns 352,587 shares in the company, valued at approximately $15,933,406.53. 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 three months. 0.03% of the stock is owned by insiders.

CSCO has been the topic of a number of recent analyst reports. Evercore ISI reaffirmed a “buy” rating on shares of Cisco Systems in a research report on Sunday, December 15th. Goldman Sachs Group set a $48.00 target price on Cisco Systems and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Thursday, November 14th. Credit Suisse Group set a $46.00 target price on Cisco Systems and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, BidaskClub lowered Cisco Systems from a “hold” rating to a “sell” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $54.57.

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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