Columbia Asset Management Has $5.40 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Columbia Asset Management grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,732 shares of the network equipment provider’s stock after purchasing an additional 1,157 shares during the quarter. Columbia Asset Management’s holdings in Cisco Systems were worth $5,403,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Summit Securities Group LLC bought a new position in shares of Cisco Systems in the 2nd quarter valued at $25,000. Retirement Group LLC lifted its holdings in shares of Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 263 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Cisco Systems during the 2nd quarter worth approximately $36,000. Tidemark LLC acquired a new stake in Cisco Systems in the fourth quarter valued at approximately $41,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Cisco Systems during the first quarter worth $41,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Trading Down 1.1 %

Cisco Systems stock opened at $49.13 on Friday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $57.47. The company has a market cap of $197.94 billion, a P/E ratio of 16.54, a P/E/G ratio of 3.98 and a beta of 0.83. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $47.82 and a two-hundred day simple moving average of $47.94.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter in the prior year, the business posted $1.01 earnings per share. The business’s quarterly revenue was down 10.3% on a year-over-year basis. Analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.26%. Cisco Systems’s dividend payout ratio is presently 53.87%.

Wall Street Analyst Weigh In

Several equities analysts have commented on CSCO shares. Deutsche Bank Aktiengesellschaft increased their target price on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Wells Fargo & Company increased their price target on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, May 16th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Thursday, August 15th. Finally, StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and a consensus price target of $55.89.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the transaction, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the sale, the executive vice president now owns 165,580 shares in the company, valued at $8,181,307.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. The disclosure for this sale can be found here. Insiders have sold a total of 71,944 shares of company stock worth $3,566,120 over the last quarter. Company insiders own 0.02% of the company’s stock.

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.