Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 8.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 98,085 shares of the network equipment provider’s stock after selling 8,876 shares during the period. Brown Brothers Harriman & Co.’s holdings in Cisco Systems were worth $4,955,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sax Wealth Advisors LLC lifted its stake in Cisco Systems by 3.6% during the third quarter. Sax Wealth Advisors LLC now owns 5,686 shares of the network equipment provider’s stock valued at $306,000 after buying an additional 196 shares in the last quarter. Hyman Charles D lifted its position in shares of Cisco Systems by 0.3% in the 4th quarter. Hyman Charles D now owns 70,727 shares of the network equipment provider’s stock valued at $3,573,000 after acquiring an additional 203 shares in the last quarter. Madrona Financial Services LLC grew its position in Cisco Systems by 2.4% during the 4th quarter. Madrona Financial Services LLC now owns 8,970 shares of the network equipment provider’s stock worth $453,000 after purchasing an additional 207 shares in the last quarter. Morton Brown Family Wealth LLC grew its position in 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 in the last quarter. Finally, River Street Advisors LLC raised its stake in Cisco Systems by 1.7% during the 4th quarter. River Street Advisors LLC now owns 12,921 shares of the network equipment provider’s stock valued at $653,000 after purchasing an additional 219 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded up $0.38 during midday trading on Friday, hitting $46.50. The company’s stock had a trading volume of 39,269,068 shares, compared to its average volume of 18,890,676. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The stock’s 50 day simple moving average is $48.07 and its 200 day simple moving average is $49.08. The stock has a market capitalization of $187.34 billion, a price-to-earnings ratio of 15.66, a PEG ratio of 2.69 and a beta of 0.87. Cisco Systems, Inc. has a fifty-two week low of $45.85 and a fifty-two week high of $58.19.

Cisco Systems (NASDAQ:CSCOGet Free Report) last released its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same quarter last year, the firm posted $0.88 EPS. The company’s revenue was down 12.8% on a year-over-year basis. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 annualized dividend and a dividend yield of 3.44%. Cisco Systems’s payout ratio is 53.87%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CSCO. UBS Group lifted their price target on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, February 12th. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Wells Fargo & Company raised their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, May 16th. Oppenheimer upped their price objective on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Finally, Morgan Stanley began coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price for the company. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and an average target price of $56.47.

View Our Latest Research Report on CSCO

Insider Activity

In related news, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the sale, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the transaction, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 3,378 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total transaction of $155,016.42. Following the completion of the sale, the senior vice president now directly owns 52,953 shares in the company, valued at approximately $2,430,013.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,166 shares of company stock valued at $2,727,647. Insiders own 0.02% of the company’s stock.

Cisco Systems Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCOFree Report).

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

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