Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Cary Street Partners Investment Advisory LLC

Cary Street Partners Investment Advisory LLC decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 80.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 39,140 shares of the network equipment provider’s stock after selling 158,771 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Cisco Systems were worth $1,977,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kathleen S. Wright Associates Inc. purchased a new position in Cisco Systems in the third quarter worth approximately $27,000. Valued Wealth Advisors LLC acquired a new stake in shares of Cisco Systems in the 4th quarter valued at $32,000. Morton Brown Family Wealth LLC lifted its position in shares of 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 during the last quarter. Bourgeon Capital Management LLC grew its stake in shares of Cisco Systems by 3,500.0% during the fourth 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. purchased a new position in Cisco Systems in the fourth quarter valued at $43,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CSCO shares. UBS Group upped their price objective on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Melius downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Melius Research reiterated a “hold” rating and set a $55.00 price target on shares of Cisco Systems in a research note on Monday, January 8th. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $55.00 to $60.00 in a research note on Monday, April 15th. Finally, Barclays lifted their target price on Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Cisco Systems presently has an average rating of “Hold” and an average price target of $55.53.

Insider Buying and Selling

In other news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the transaction, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the transaction, the executive vice president now owns 191,559 shares in the company, valued at $9,579,865.59. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock worth $972,080 in the last quarter. Company insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded down $0.72 during midday trading on Tuesday, hitting $47.06. The stock had a trading volume of 6,517,186 shares, compared to its average volume of 19,101,486. The company has a market capitalization of $190.55 billion, a PE ratio of 14.52, a P/E/G ratio of 2.76 and a beta of 0.87. Cisco Systems, Inc. has a 1 year low of $45.56 and a 1 year high of $58.19. The stock has a 50 day moving average price of $48.92 and a two-hundred day moving average price of $49.97. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share 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 firm had revenue of $12.79 billion for the quarter, compared to analyst estimates of $12.71 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. Cisco Systems’s quarterly revenue was down 5.9% on a year-over-year basis. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.13 earnings per share for the current fiscal 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 paid a dividend of $0.40 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.40%. Cisco Systems’s payout ratio is 48.63%.

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.