Cisco Systems, Inc. (CSCO) Position Lifted by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 171,102 shares of the network equipment provider’s stock after purchasing an additional 14,239 shares during the period. Lee Danner & Bass Inc.’s holdings in Cisco Systems were worth $5,754,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vicus Capital increased its holdings in shares of Cisco Systems by 5.4% in the third quarter. Vicus Capital now owns 47,750 shares of the network equipment provider’s stock valued at $1,606,000 after purchasing an additional 2,443 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Cisco Systems during the third quarter worth $30,519,000. Parkside Financial Bank & Trust increased its stake in Cisco Systems by 16.0% during the third quarter. Parkside Financial Bank & Trust now owns 23,674 shares of the network equipment provider’s stock worth $796,000 after acquiring an additional 3,260 shares during the last quarter. Hudock Capital Group LLC increased its stake in Cisco Systems by 9.5% during the third quarter. Hudock Capital Group LLC now owns 57,031 shares of the network equipment provider’s stock worth $1,917,000 after acquiring an additional 4,927 shares during the last quarter. Finally, United Bank Inc. increased its stake in Cisco Systems by 1.4% during the third quarter. United Bank Inc. now owns 173,490 shares of the network equipment provider’s stock worth $5,835,000 after acquiring an additional 2,354 shares during the last quarter. 75.55% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP Rebecca Jacoby sold 75,021 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $38.42, for a total value of $2,882,306.82. Following the completion of the transaction, the senior vice president now owns 257,476 shares of the company’s stock, valued at approximately $9,892,227.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Karen Walker sold 5,786 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total transaction of $211,131.14. Following the completion of the transaction, the senior vice president now directly owns 176,418 shares of the company’s stock, valued at approximately $6,437,492.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 348,643 shares of company stock worth $12,892,271. 0.05% of the stock is currently owned by company insiders.

Cisco Systems, Inc. (NASDAQ:CSCO) opened at $39.17 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.87 and a quick ratio of 2.81. The stock has a market cap of $193,640.00, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 3.46 and a beta of 1.19. Cisco Systems, Inc. has a 12-month low of $29.80 and a 12-month high of $39.28.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The firm had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.11 billion. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 earnings per share. equities analysts forecast that Cisco Systems, Inc. will post 2.21 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be given a $0.29 dividend. The ex-dividend date is Thursday, January 4th. This represents a $1.16 annualized dividend and a yield of 2.96%. Cisco Systems’s dividend payout ratio (DPR) is 60.10%.

Several equities research analysts have issued reports on CSCO shares. Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 target price for the company in a research note on Wednesday, September 6th. Oppenheimer reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Cisco Systems in a research note on Tuesday, October 31st. Cowen reaffirmed a “buy” rating on shares of Cisco Systems in a research note on Friday, November 17th. Deutsche Bank reiterated a “buy” rating and issued a $45.00 target price (up from $40.00) on shares of Cisco Systems in a report on Thursday, November 16th. Finally, Royal Bank of Canada lifted their target price on Cisco Systems to $40.00 and gave the company an “outperform” rating in a report on Thursday, November 16th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Cisco Systems currently has a consensus rating of “Buy” and an average price target of $37.35.

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Cisco Systems Company Profile

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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