Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 199,926 shares of the network equipment provider’s stock after selling 1,512 shares during the quarter. Cisco Systems comprises about 1.3% of Carret Asset Management LLC’s holdings, making the stock its 13th largest holding. Carret Asset Management LLC’s holdings in Cisco Systems were worth $10,100,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kathleen S. Wright Associates Inc. acquired a new stake in Cisco Systems during the third quarter worth $27,000. Valued Wealth Advisors LLC purchased a new position in shares of Cisco Systems during the fourth quarter worth $32,000. Morton Brown Family Wealth LLC raised its holdings in shares of Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 208 shares during the period. Bourgeon Capital Management LLC raised its holdings in shares of Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 700 shares during the period. Finally, Rakuten Securities Inc. purchased a new stake in shares of Cisco Systems in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO stock traded up $0.03 during trading hours on Wednesday, reaching $48.35. 14,813,125 shares of the company’s stock were exchanged, compared to its average volume of 19,419,535. The company has a market cap of $195.78 billion, a P/E ratio of 14.70, a price-to-earnings-growth ratio of 2.78 and a beta of 0.87. The company’s 50 day moving average is $49.01 and its two-hundred day moving average is $50.13. Cisco Systems, Inc. has a 1 year low of $45.56 and a 1 year high of $58.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results 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. The business had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The company’s revenue was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 EPS. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Wednesday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio is 48.63%.

Analyst Ratings Changes

CSCO has been the topic of several research analyst reports. Melius downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Wells Fargo & Company initiated coverage on Cisco Systems in a report on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price objective on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Tuesday, April 9th. Melius Research reissued a “hold” rating and set a $55.00 target price on shares of Cisco Systems in a research note on Monday, January 8th. Finally, UBS Group boosted their target price on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Hold” and an average price target of $55.53.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the 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 sale, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Richard Scott Herren sold 13,942 shares of the firm’s 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 sale, the chief financial officer now owns 328,491 shares in the company, valued at $16,424,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares in the company, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is owned by insiders.

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.