Adell Harriman & Carpenter Inc. Has $13.79 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Adell Harriman & Carpenter Inc. raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 8.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 223,535 shares of the network equipment provider's stock after purchasing an additional 17,125 shares during the quarter. Cisco Systems accounts for about 1.0% of Adell Harriman & Carpenter Inc.'s investment portfolio, making the stock its 26th largest position. Adell Harriman & Carpenter Inc.'s holdings in Cisco Systems were worth $13,794,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc boosted its holdings in shares of Cisco Systems by 8.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock valued at $123,000 after buying an additional 166 shares during the period. BlackDiamond Wealth Management LLC boosted its stake in Cisco Systems by 3.1% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock worth $335,000 after purchasing an additional 168 shares during the period. Legacy Financial Group Inc. boosted its stake in Cisco Systems by 3.4% in the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock worth $302,000 after purchasing an additional 169 shares during the period. Capital Advantage Inc. boosted its stake in Cisco Systems by 1.0% in the 4th quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider's stock worth $1,028,000 after purchasing an additional 172 shares during the period. Finally, Lynx Investment Advisory boosted its position in shares of Cisco Systems by 3.9% during the fourth quarter. Lynx Investment Advisory now owns 4,593 shares of the network equipment provider's stock worth $272,000 after buying an additional 174 shares during the period. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Performance

NASDAQ:CSCO traded down $0.44 during mid-day trading on Monday, hitting $68.93. 22,512,052 shares of the stock were exchanged, compared to its average volume of 21,806,871. The stock has a market capitalization of $272.96 billion, a price-to-earnings ratio of 28.13, a price-to-earnings-growth ratio of 4.15 and a beta of 0.90. The firm's 50-day simple moving average is $63.93 and its 200 day simple moving average is $61.51. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the previous year, the business earned $0.88 earnings per share. The firm's quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CSCO. Evercore ISI upped their price objective on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Rosenblatt Securities increased their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Citigroup increased their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Cisco Systems has a consensus rating of "Moderate Buy" and a consensus price target of $69.53.

Insiders Place Their Bets

In other news, EVP Oliver Tuszik sold 15,000 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total transaction of $952,950.00. Following the completion of the transaction, the executive vice president owned 131,676 shares of the company's stock, valued at approximately $8,365,376.28. The trade was a 10.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the transaction, the executive vice president directly owned 181,186 shares of the company's stock, valued at $11,505,311. This trade represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock valued at $6,271,054 over the last 90 days. 0.01% of the stock is owned by company insiders.

Cisco Systems Company 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.