Columbia Asset Management trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,676 shares of the network equipment provider’s stock after selling 1,169 shares during the period. Cisco Systems accounts for 2.1% of Columbia Asset Management’s portfolio, making the stock its 10th largest holding. Columbia Asset Management’s holdings in Cisco Systems were worth $8,027,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Lowe Brockenbrough & Co. Inc. raised its holdings in shares of Cisco Systems by 0.5% during the first quarter. Lowe Brockenbrough & Co. Inc. now owns 336,369 shares of the network equipment provider’s stock worth $18,161,000 after purchasing an additional 1,571 shares during the last quarter. GYL Financial Synergies LLC raised its holdings in shares of Cisco Systems by 14.4% during the first quarter. GYL Financial Synergies LLC now owns 6,988 shares of the network equipment provider’s stock worth $377,000 after purchasing an additional 882 shares during the last quarter. Diversified Trust Co raised its holdings in shares of Cisco Systems by 8.0% during the first quarter. Diversified Trust Co now owns 174,358 shares of the network equipment provider’s stock worth $9,414,000 after purchasing an additional 12,957 shares during the last quarter. Princeton Global Asset Management LLC raised its holdings in shares of Cisco Systems by 16.3% during the first quarter. Princeton Global Asset Management LLC now owns 37,850 shares of the network equipment provider’s stock worth $2,043,000 after purchasing an additional 5,316 shares during the last quarter. Finally, Financial Insights Inc. purchased a new position in shares of Cisco Systems during the first quarter worth $217,000. Hedge funds and other institutional investors own 74.60% of the company’s stock.

In other news, EVP Mark D. Chandler sold 3,750 shares of Cisco Systems stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $55.79, for a total value of $209,212.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $53.56, for a total transaction of $3,749,200.00. Following the completion of the sale, the chief financial officer now owns 349,122 shares in the company, valued at approximately $18,698,974.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,129 shares of company stock worth $5,159,754. Company insiders own 0.03% of the company’s stock.

CSCO has been the subject of several recent research reports. JPMorgan Chase & Co. reissued a “buy” rating on shares of Cisco Systems in a report on Thursday, May 16th. Bank of America set a $62.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a report on Thursday, May 16th. Jefferies Financial Group raised their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. They noted that the move was a valuation call. BidaskClub cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 7th. Finally, Goldman Sachs Group lowered shares of Cisco Systems from a “conviction-buy” rating to a “buy” rating and raised their price target for the company from $58.00 to $62.00 in a research report on Tuesday, April 16th. Seven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Cisco Systems presently has a consensus rating of “Buy” and an average price target of $55.92.

CSCO stock opened at $54.75 on Monday. The firm has a market cap of $234.37 billion, a P/E ratio of 23.40, a PEG ratio of 2.80 and a beta of 1.21. The company has a current ratio of 1.69, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a one year low of $40.25 and a one year high of $57.56.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.01. Cisco Systems had a net margin of 25.76% and a return on equity of 29.88%. The company had revenue of $12.96 billion for the quarter, compared to analyst estimates of $12.89 billion. During the same quarter last year, the business earned $0.66 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. Research analysts predict that Cisco Systems, Inc. will post 2.8 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be given a $0.35 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $1.40 annualized dividend and a dividend yield of 2.56%. Cisco Systems’s dividend payout ratio (DPR) is 59.83%.

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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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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

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