First Fiduciary Investment Counsel Inc. Has $12.95 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

First Fiduciary Investment Counsel Inc. trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 256,288 shares of the network equipment provider’s stock after selling 325 shares during the period. Cisco Systems makes up approximately 2.9% of First Fiduciary Investment Counsel Inc.’s holdings, making the stock its 12th biggest holding. First Fiduciary Investment Counsel Inc.’s holdings in Cisco Systems were worth $12,948,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Kathleen S. Wright Associates Inc. bought a new stake in Cisco Systems during the 3rd quarter worth approximately $27,000. Valued Wealth Advisors LLC bought a new stake in Cisco Systems during the 4th quarter worth approximately $32,000. Morton Brown Family Wealth LLC increased its stake in Cisco Systems by 41.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares in the last quarter. Bourgeon Capital Management LLC increased its stake in Cisco Systems by 3,500.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 700 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new stake in Cisco Systems during the 4th quarter worth approximately $43,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cisco Systems

In other news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at $2,906,050. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,441 shares of company stock worth $972,080. Insiders own 0.02% of the company’s stock.

Cisco Systems Stock Down 0.5 %

CSCO opened at $47.86 on Friday. Cisco Systems, Inc. has a fifty-two week low of $45.56 and a fifty-two week 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 company has a market capitalization of $193.79 billion, a P/E ratio of 14.55, a P/E/G ratio of 2.78 and a beta of 0.87. The stock has a fifty day moving average of $48.94 and a 200-day moving average of $50.06.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The company had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. During the same quarter last year, the business earned $0.76 earnings per share. Cisco Systems’s revenue was down 5.9% on a year-over-year basis. On average, equities analysts expect that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were issued a dividend of $0.40 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 3.34%. The ex-dividend date was Wednesday, April 3rd. Cisco Systems’s payout ratio is 48.63%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Melius cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Wells Fargo & Company assumed coverage on shares of Cisco Systems in a research note on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price target for the company. Finally, Melius Research reaffirmed a “hold” rating and set a $55.00 price target on shares of Cisco Systems in a research note on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $55.53.

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 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.