Patton Fund Management Inc. Has $8.03 Million Stock Position in Cisco Systems, Inc. $CSCO

Key Points

• Patton Fund Management increased its stake in Cisco by 2,583.1% in Q4 to 104,213 shares worth $8.03 million, representing 1.1% of the fund and its 22nd-largest holding.
• Cisco beat quarterly estimates with $1.04 EPS and $15.35 billion in revenue (up 9.7% YoY) and raised its quarterly dividend to $0.42 (annualized $1.68, ~2.0% yield).
• Insiders sold 46,431 shares (~$3.57 million) in the last quarter, while institutional investors own about 73.33% of Cisco's stock.

Patton Fund Management Inc. grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2,583.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 104,213 shares of the network equipment provider's stock after acquiring an additional 100,329 shares during the quarter. Cisco Systems accounts for 1.1% of Patton Fund Management Inc.'s holdings, making the stock its 22nd biggest position. Patton Fund Management Inc.'s holdings in Cisco Systems were worth $8,028,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Invesco Ltd. boosted its position in Cisco Systems by 10.5% during the 3rd quarter. Invesco Ltd. now owns 53,612,720 shares of the network equipment provider's stock worth $3,668,182,000 after acquiring an additional 5,081,469 shares during the last quarter. Northern Trust Corp boosted its position in Cisco Systems by 3.5% during the 3rd quarter. Northern Trust Corp now owns 48,498,612 shares of the network equipment provider's stock worth $3,318,275,000 after acquiring an additional 1,631,703 shares during the last quarter. Franklin Resources Inc. boosted its position in Cisco Systems by 4.4% during the 3rd quarter. Franklin Resources Inc. now owns 42,641,483 shares of the network equipment provider's stock worth $2,917,530,000 after acquiring an additional 1,804,625 shares during the last quarter. Legal & General Group Plc boosted its position in Cisco Systems by 7.2% during the 3rd quarter. Legal & General Group Plc now owns 37,674,954 shares of the network equipment provider's stock worth $2,577,720,000 after acquiring an additional 2,535,716 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Cisco Systems by 19.5% during the 3rd quarter. Wellington Management Group LLP now owns 33,748,414 shares of the network equipment provider's stock worth $2,309,066,000 after acquiring an additional 5,498,375 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Insiders Place Their Bets

In related news, EVP Thimaya K. Subaiya sold 1,744 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $77.07, for a total value of $134,410.08. Following the sale, the executive vice president owned 156,693 shares in the company, valued at approximately $12,076,329.51. This represents a 1.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Oliver Tuszik sold 3,132 shares of the stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $79.74, for a total value of $249,745.68. Following the completion of the sale, the executive vice president owned 188,613 shares in the company, valued at approximately $15,040,000.62. This trade represents a 1.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 46,431 shares of company stock worth $3,574,820 in the last quarter. Company insiders own 0.01% of the company's stock.

Cisco Systems Trading Up 0.2%

Shares of Cisco Systems stock opened at $82.35 on Tuesday. Cisco Systems, Inc. has a 12-month low of $53.83 and a 12-month high of $88.18. The stock has a market cap of $325.27 billion, a P/E ratio of 28.89, a P/E/G ratio of 3.10 and a beta of 0.83. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45. The business's 50 day moving average is $79.77 and its 200-day moving average is $76.33.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.02. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The company had revenue of $15.35 billion for the quarter, compared to analysts' expectations of $15.11 billion. During the same quarter in the prior year, the business posted $0.94 EPS. The business's revenue was up 9.7% compared to the same quarter last year. Equities research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be paid a $0.42 dividend. This is a boost from Cisco Systems's previous quarterly dividend of $0.41. The ex-dividend date is Thursday, April 2nd. This represents a $1.68 dividend on an annualized basis and a yield of 2.0%. Cisco Systems's dividend payout ratio (DPR) is currently 58.95%.

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of recent research reports. Argus raised Cisco Systems to a "strong-buy" rating in a research report on Friday, February 13th. CICC Research upped their price objective on Cisco Systems from $84.00 to $96.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. Zacks Research upgraded Cisco Systems from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 26th. HSBC upped their price objective on Cisco Systems from $74.00 to $77.00 and gave the stock a "hold" rating in a research note on Friday, February 13th. Finally, BNP Paribas Exane upped their price objective on Cisco Systems from $86.00 to $87.00 and gave the stock an "outperform" rating in a research note on Thursday, February 12th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $89.76.

Cisco Systems Company Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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