Cullinan Associates Inc. Acquires 55,665 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Cullinan Associates Inc. raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 18.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 360,001 shares of the network equipment provider’s stock after buying an additional 55,665 shares during the period. Cisco Systems comprises about 1.0% of Cullinan Associates Inc.’s investment portfolio, making the stock its 25th biggest holding. Cullinan Associates Inc.’s holdings in Cisco Systems were worth $17,968,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Valued Wealth Advisors LLC purchased a new stake in Cisco Systems during the 4th quarter valued at $32,000. Delos Wealth Advisors LLC boosted its position in Cisco Systems by 1,666.7% during the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after buying an additional 600 shares during the period. DiNuzzo Private Wealth Inc. purchased a new stake in Cisco Systems during the 4th quarter valued at $33,000. Morton Brown Family Wealth LLC boosted its position in Cisco Systems by 41.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 208 shares during the period. Finally, Bourgeon Capital Management LLC boosted its position in Cisco Systems by 3,500.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 700 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

CSCO traded down $0.51 during trading on Tuesday, hitting $47.01. 3,697,715 shares of the company traded hands, compared to its average volume of 19,620,842. The company has a market cap of $189.39 billion, a PE ratio of 15.95, a P/E/G ratio of 2.75 and a beta of 0.85. The stock’s 50-day simple moving average is $47.06 and its two-hundred day simple moving average is $48.78. Cisco Systems, Inc. has a 1 year low of $44.95 and a 1 year high of $58.19. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same period last year, the company posted $0.88 EPS. The business’s revenue was down 12.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 annualized dividend and a dividend yield of 3.40%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the sale, the senior vice president now owns 51,788 shares in the company, valued at approximately $2,352,210.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the transaction, the chief executive officer now owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the transaction, the senior vice president now directly owns 51,788 shares in the company, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,106 shares of company stock worth $1,908,923. 0.02% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CSCO has been the subject of several research analyst reports. Citigroup initiated coverage on shares of Cisco Systems in a research report on Friday, April 12th. They issued a “neutral” rating and a $52.00 target price for the company. BNP Paribas upgraded shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research note on Monday, May 13th. Wells Fargo & Company raised their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. Morgan Stanley initiated coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price objective for the company. Finally, StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $56.47.

Cisco Systems Company 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.