Rice Partnership LLC Has $3.13 Million Holdings in Cisco Systems, Inc. (CSCO)

Rice Partnership LLC raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.7% in the 4th quarter, Holdings Channel reports. The fund owned 72,202 shares of the network equipment provider’s stock after acquiring an additional 1,919 shares during the period. Cisco Systems makes up 2.8% of Rice Partnership LLC’s investment portfolio, making the stock its 13th largest position. Rice Partnership LLC’s holdings in Cisco Systems were worth $3,129,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of CSCO. Clearwater Capital Advisors LLC boosted its holdings in shares of Cisco Systems by 18.0% in the fourth quarter. Clearwater Capital Advisors LLC now owns 8,003 shares of the network equipment provider’s stock valued at $347,000 after acquiring an additional 1,222 shares in the last quarter. Dfpg Investments Inc. bought a new position in shares of Cisco Systems in the fourth quarter valued at approximately $433,000. Sitrin Capital Management LLC boosted its holdings in shares of Cisco Systems by 0.4% in the fourth quarter. Sitrin Capital Management LLC now owns 135,128 shares of the network equipment provider’s stock valued at $5,855,000 after acquiring an additional 474 shares in the last quarter. Physicians Financial Services Inc. boosted its holdings in shares of Cisco Systems by 4.9% in the fourth quarter. Physicians Financial Services Inc. now owns 39,870 shares of the network equipment provider’s stock valued at $1,728,000 after acquiring an additional 1,845 shares in the last quarter. Finally, Horan Securities Inc. boosted its holdings in shares of Cisco Systems by 663.0% in the fourth quarter. Horan Securities Inc. now owns 763 shares of the network equipment provider’s stock valued at $33,000 after acquiring an additional 663 shares in the last quarter. Institutional investors own 69.14% of the company’s stock.

Shares of NASDAQ:CSCO opened at $56.95 on Wednesday. The company has a market cap of $272.48 billion, a P/E ratio of 24.34, a price-to-earnings-growth ratio of 2.94 and a beta of 1.22. Cisco Systems, Inc. has a 1-year low of $40.25 and a 1-year high of $57.53. The company has a quick ratio of 1.74, a current ratio of 1.80 and a debt-to-equity ratio of 0.39.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 13th. The network equipment provider reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01. The firm had revenue of $12.45 billion during the quarter, compared to analysts’ expectations of $12.43 billion. Cisco Systems had a net margin of 25.31% and a return on equity of 27.58%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.75 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Friday, April 5th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Thursday, April 4th. This is an increase from Cisco Systems’s previous quarterly dividend of $0.33. Cisco Systems’s dividend payout ratio is 59.83%.

Cisco Systems announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 13th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to reacquire up to 6.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

CSCO has been the subject of several recent analyst reports. KeyCorp increased their price objective on shares of Cisco Systems from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, February 14th. Bank of America reiterated a “buy” rating and issued a $56.00 price objective on shares of Cisco Systems in a report on Thursday, February 14th. Robert W. Baird reiterated a “buy” rating and issued a $53.00 price objective on shares of Cisco Systems in a report on Tuesday, February 12th. Jefferies Financial Group increased their price objective on shares of Cisco Systems to $55.00 and gave the company a “buy” rating in a report on Thursday, February 14th. They noted that the move was a valuation call. Finally, Citigroup increased their price objective on shares of Cisco Systems from $52.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, February 14th. Seven research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $53.75.

In related news, EVP David Goeckeler sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $52.07, for a total value of $1,562,100.00. Following the completion of the sale, the executive vice president now owns 419,439 shares in the company, valued at approximately $21,840,188.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Roderick C. Mcgeary sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $49.66, for a total transaction of $744,900.00. Following the completion of the sale, the director now owns 102,898 shares of the company’s stock, valued at approximately $5,109,914.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 115,000 shares of company stock valued at $5,926,000. 0.03% of the stock is owned by insiders.

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About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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

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