Carret Asset Management LLC Has $12.12 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Carret Asset Management LLC lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 0.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 217,439 shares of the network equipment provider’s stock after selling 824 shares during the period. Cisco Systems accounts for 1.4% of Carret Asset Management LLC’s portfolio, making the stock its 11th largest position. Carret Asset Management LLC’s holdings in Cisco Systems were worth $12,124,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Cantor Fitzgerald Investment Advisor L.P grew its holdings in Cisco Systems by 47.8% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 454,280 shares of the network equipment provider’s stock valued at $25,330,000 after buying an additional 146,925 shares during the last quarter. Griffin Asset Management Inc. grew its holdings in shares of Cisco Systems by 8.2% during the 1st quarter. Griffin Asset Management Inc. now owns 6,841 shares of the network equipment provider’s stock worth $381,000 after purchasing an additional 520 shares in the last quarter. First Affirmative Financial Network grew its holdings in shares of Cisco Systems by 15.0% during the 1st quarter. First Affirmative Financial Network now owns 9,084 shares of the network equipment provider’s stock worth $507,000 after purchasing an additional 1,188 shares in the last quarter. First American Trust FSB grew its holdings in shares of Cisco Systems by 14.6% during the 1st quarter. First American Trust FSB now owns 9,423 shares of the network equipment provider’s stock worth $525,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Old Port Advisors grew its holdings in shares of Cisco Systems by 0.4% during the 1st quarter. Old Port Advisors now owns 54,035 shares of the network equipment provider’s stock worth $3,008,000 after purchasing an additional 195 shares in the last quarter. 73.18% of the stock is currently owned by hedge funds and other institutional investors.

In related news, SVP Prat Bhatt sold 607 shares of the company’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $43.10, for a total transaction of $26,161.70. Following the sale, the senior vice president now owns 79,855 shares in the company, valued at $3,441,750.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 12,717 shares of the company’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $43.79, for a total value of $556,877.43. Following the sale, the chief executive officer now owns 651,577 shares in the company, valued at approximately $28,532,556.83. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,326 shares of company stock worth $1,103,159. Corporate insiders own 0.02% of the company’s stock.

Several research firms recently commented on CSCO. Citigroup cut their target price on Cisco Systems from $45.00 to $40.00 and set a “sell” rating for the company in a research report on Thursday, May 19th. Cowen cut their target price on Cisco Systems to $58.00 and set a “neutral” rating for the company in a research report on Thursday, May 19th. Wells Fargo & Company cut their price objective on Cisco Systems from $65.00 to $52.00 and set an “equal weight” rating for the company in a research report on Thursday, May 19th. Morgan Stanley cut their price objective on Cisco Systems from $59.00 to $46.00 and set an “equal weight” rating for the company in a research report on Thursday, May 19th. Finally, JPMorgan Chase & Co. cut their price objective on Cisco Systems from $67.00 to $62.00 and set an “overweight” rating for the company in a research report on Thursday, May 19th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus price target of $55.05.

NASDAQ:CSCO opened at $43.57 on Thursday. Cisco Systems, Inc. has a 1 year low of $41.02 and a 1 year high of $64.29. The company has a current ratio of 1.49, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21. The stock has a market cap of $180.42 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 2.27 and a beta of 0.99. The stock has a 50-day moving average price of $47.24 and a two-hundred day moving average price of $53.77.

Cisco Systems (NASDAQ:CSCOGet Rating) last issued its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. Cisco Systems had a return on equity of 31.22% and a net margin of 23.28%. During the same period last year, the business earned $0.75 EPS. Sell-side analysts forecast that Cisco Systems, Inc. will post 2.99 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Wednesday, July 6th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Tuesday, July 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.49%. Cisco Systems’s dividend payout ratio (DPR) is 53.33%.

About Cisco Systems (Get Rating)

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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

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