Folger Nolan Fleming Douglas Capital Management Inc. Sells 2,695 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Folger Nolan Fleming Douglas Capital Management Inc. decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.9% during the fourth quarter, HoldingsChannel reports. The fund owned 138,160 shares of the network equipment provider’s stock after selling 2,695 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Cisco Systems were worth $6,980,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CSCO. California Public Employees Retirement System raised its position in Cisco Systems by 25.0% in the 4th quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock worth $947,262,000 after purchasing an additional 3,753,165 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Cisco Systems during the third quarter valued at approximately $179,207,000. Capital Wealth Planning LLC lifted its stake in shares of Cisco Systems by 7,074.3% during the 3rd quarter. Capital Wealth Planning LLC now owns 3,271,642 shares of the network equipment provider’s stock worth $175,883,000 after acquiring an additional 3,226,040 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Cisco Systems by 32.7% during the 4th quarter. Pacer Advisors Inc. now owns 7,749,370 shares of the network equipment provider’s stock valued at $391,498,000 after acquiring an additional 1,909,597 shares during the period. Finally, Northern Trust Corp grew its position in Cisco Systems by 3.8% in the 3rd quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock valued at $2,717,537,000 after acquiring an additional 1,847,682 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Down 0.5 %

CSCO traded down $0.24 during trading on Friday, hitting $47.86. The stock had a trading volume of 14,658,910 shares, compared to its average volume of 16,851,638. The company has a market capitalization of $193.79 billion, a PE ratio of 14.55, a PEG ratio of 2.78 and a beta of 0.87. Cisco Systems, Inc. has a twelve month low of $45.56 and a twelve month high of $58.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The stock has a 50 day simple moving average of $48.94 and a two-hundred day simple moving average of $50.06.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. The company had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. Cisco Systems’s revenue was down 5.9% compared to the same quarter last year. During the same period last year, the firm earned $0.76 earnings per share. On average, research analysts predict that Cisco Systems, Inc. will post 3.13 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.34%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is 48.63%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the transaction, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The disclosure for this sale can be found here. Insiders sold a total of 19,441 shares of company stock worth $972,080 over the last three months. Corporate insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CSCO shares. Morgan Stanley began coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price for the company. 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 price objective for the company. Melius lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Wells Fargo & Company initiated coverage on Cisco Systems in a research note on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and an average price target of $55.53.

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.