Ellis Investment Partners LLC Has $431,000 Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Ellis Investment Partners LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,275 shares of the network equipment provider’s stock after selling 245 shares during the period. Ellis Investment Partners LLC’s holdings in Cisco Systems were worth $431,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Pflug Koory LLC lifted its position in Cisco Systems by 0.5% during the 4th quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock worth $1,955,000 after acquiring an additional 165 shares during the last quarter. Beaumont Financial Advisors LLC lifted its position in Cisco Systems by 1.7% during the 4th quarter. Beaumont Financial Advisors LLC now owns 10,591 shares of the network equipment provider’s stock worth $627,000 after acquiring an additional 173 shares during the last quarter. SeaCrest Wealth Management LLC lifted its position in Cisco Systems by 0.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 31,744 shares of the network equipment provider’s stock worth $1,879,000 after acquiring an additional 178 shares during the last quarter. Aviso Wealth Management lifted its position in Cisco Systems by 2.4% during the 3rd quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock worth $405,000 after acquiring an additional 181 shares during the last quarter. Finally, Waypoint Capital Advisors LLC lifted its position in Cisco Systems by 2.9% during the 3rd quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock worth $346,000 after acquiring an additional 182 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 21,230 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the transaction, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 4,881 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the completion of the transaction, the senior vice president now directly owns 51,931 shares in the company, valued at approximately $3,101,838.63. The trade was a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,239 shares of company stock valued at $2,166,612 over the last three months. 0.01% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday. Citigroup upped their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday. UBS Group upped their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday. Barclays upped their price objective on shares of Cisco Systems from $56.00 to $61.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Bank of America increased their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.53.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $64.87 on Monday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average price is $60.07 and its two-hundred day moving average price is $55.59. The stock has a market capitalization of $258.36 billion, a price-to-earnings ratio of 27.84, a P/E/G ratio of 4.63 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released its quarterly 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 17.73% and a return on equity of 25.70%. On average, equities analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio is 71.62%.

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.