Chilton Investment Co. LLC Cuts Stake in Cisco Systems (CSCO)

Chilton Investment Co. LLC lessened its stake in shares of Cisco Systems (NASDAQ:CSCO) by 5.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 66,174 shares of the network equipment provider’s stock after selling 3,727 shares during the quarter. Chilton Investment Co. LLC’s holdings in Cisco Systems were worth $2,534,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vantage Financial Partners Ltd. Inc. acquired a new stake in Cisco Systems in the 2nd quarter worth about $231,000. IFG Advisory LLC acquired a new stake in Cisco Systems in the 4th quarter worth about $2,375,000. Stonehearth Capital Management LLC acquired a new stake in Cisco Systems in the 4th quarter worth about $102,000. Goodman Financial Corp acquired a new stake in Cisco Systems in the 4th quarter worth about $115,000. Finally, Tarbox Family Office Inc. raised its stake in Cisco Systems by 67.9% in the 4th quarter. Tarbox Family Office Inc. now owns 3,328 shares of the network equipment provider’s stock worth $127,000 after purchasing an additional 1,346 shares in the last quarter. Institutional investors own 77.58% of the company’s stock.

CSCO opened at $43.71 on Thursday. Cisco Systems has a fifty-two week low of $30.36 and a fifty-two week high of $46.16. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.38 and a current ratio of 2.43. The company has a market cap of $213,175.17, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 3.16 and a beta of 1.14.



Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. Cisco Systems had a negative net margin of 3.00% and a positive return on equity of 17.77%. The firm had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.82 billion. During the same period in the previous year, the firm posted $0.57 EPS. equities research analysts forecast that Cisco Systems will post 2.33 EPS for the current fiscal year.

Cisco Systems announced that its board has approved a share buyback plan on Wednesday, February 14th that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 25th. Stockholders of record on Thursday, April 5th were paid a $0.33 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Wednesday, April 4th. Cisco Systems’s dividend payout ratio is currently 61.40%.

In other news, EVP David Goeckeler sold 20,671 shares of the company’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $45.50, for a total value of $940,530.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director M Michele Burns sold 12,126 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $45.37, for a total transaction of $550,156.62. Following the completion of the sale, the director now directly owns 74,479 shares in the company, valued at $3,379,112.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,986 shares of company stock worth $2,116,422. Insiders own 0.05% of the company’s stock.

Several brokerages have recently commented on CSCO. Citigroup boosted their target price on shares of Cisco Systems from $46.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, March 16th. Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $46.93 target price for the company in a research report on Monday, March 19th. Argus restated a “buy” rating and issued a $50.00 target price (up from $44.00) on shares of Cisco Systems in a research report on Friday, February 16th. Piper Jaffray restated an “overweight” rating and issued a $49.00 target price (up from $48.00) on shares of Cisco Systems in a research report on Wednesday, April 18th. Finally, MKM Partners boosted their target price on shares of Cisco Systems to $48.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $44.26.

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About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.

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

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