Hallmark Capital Management Inc. Has $20.30 Million Holdings in Cisco Systems, Inc. (CSCO)

Hallmark Capital Management Inc. reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 530,022 shares of the network equipment provider’s stock after selling 8,468 shares during the quarter. Cisco Systems comprises about 2.4% of Hallmark Capital Management Inc.’s holdings, making the stock its 4th largest position. Hallmark Capital Management Inc.’s holdings in Cisco Systems were worth $20,300,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of Cisco Systems during the 2nd quarter worth $231,000. Stonehearth Capital Management LLC acquired a new position in shares of Cisco Systems during the 4th quarter worth $102,000. Mountain Capital Investment Advisors Inc acquired a new position in shares of Cisco Systems during the 2nd quarter worth $104,000. Manchester Capital Management LLC grew its stake in shares of Cisco Systems by 10.7% during the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock worth $113,000 after purchasing an additional 350 shares during the period. Finally, Ffcm LLC grew its stake in shares of Cisco Systems by 2,025.0% during the 2nd quarter. Ffcm LLC now owns 3,740 shares of the network equipment provider’s stock worth $117,000 after purchasing an additional 3,564 shares during the period. 77.56% of the stock is currently owned by institutional investors.

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CSCO has been the topic of a number of recent analyst reports. Barclays upped their price target on shares of Cisco Systems from $37.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 17th. Zacks Investment Research cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Vetr raised shares of Cisco Systems from a “sell” rating to a “hold” rating and set a $38.01 price objective on the stock in a research note on Wednesday, December 27th. Argus reissued a “buy” rating and issued a $50.00 price objective (up from $44.00) on shares of Cisco Systems in a research note on Friday, February 16th. Finally, Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the company from $38.99 to $46.00 in a research note on Friday, January 5th. They noted that the move was a valuation call. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $44.25.

In other news, Director Arun Sarin sold 14,189 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $44.10, for a total transaction of $625,734.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director M Michele Burns sold 12,126 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $45.37, for a total transaction of $550,156.62. Following the transaction, the director now 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 quarter, insiders have sold 46,986 shares of company stock worth $2,116,422. Insiders own 0.05% of the company’s stock.

Cisco Systems, Inc. (NASDAQ:CSCO) opened at $42.42 on Monday. The firm has a market cap of $204,359.11, a PE ratio of 19.11, a PEG ratio of 2.84 and a beta of 1.10. Cisco Systems, Inc. has a 1-year low of $30.36 and a 1-year high of $46.16. The company has a current ratio of 2.43, a quick ratio of 2.38 and a debt-to-equity ratio of 0.49.

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

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, April 5th will be issued a dividend of $0.33 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Wednesday, April 4th. Cisco Systems’s dividend payout ratio is presently -362.50%.

Cisco Systems declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 14th that authorizes the company to buyback $25.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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About Cisco Systems

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

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

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