Primecap Management Co. CA Has $328.03 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Primecap Management Co. CA trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,541,030 shares of the network equipment provider’s stock after selling 165,779 shares during the quarter. Primecap Management Co. CA owned 0.14% of Cisco Systems worth $328,029,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new position in Cisco Systems in the 4th quarter valued at $26,000. Campbell Capital Management Inc. acquired a new position in Cisco Systems in the 4th quarter valued at $31,000. Highline Wealth Partners LLC grew its holdings in Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after buying an additional 260 shares in the last quarter. Synergy Investment Management LLC acquired a new position in Cisco Systems in the 4th quarter valued at $36,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in Cisco Systems in the 3rd quarter valued at $40,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. This trade represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the sale, the chief executive officer now owns 736,120 shares in the company, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,547 shares of company stock worth $4,275,553 over the last ninety days. 0.01% of the stock is owned by insiders.

Cisco Systems Price Performance

Cisco Systems stock opened at $60.89 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $242.24 billion, a PE ratio of 26.59, a P/E/G ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The stock has a 50-day moving average price of $61.83 and a two-hundred day moving average price of $57.88.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems declared that its board has initiated a share repurchase program on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.69%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is 71.62%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CSCO. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. The Goldman Sachs Group increased their target price on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Citigroup reissued an “overweight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Finally, StockNews.com lowered Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 5th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $66.63.

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.