RMB Capital Management LLC Cuts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

RMB Capital Management LLC trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 4.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,428 shares of the network equipment provider’s stock after selling 1,216 shares during the period. RMB Capital Management LLC’s holdings in Cisco Systems were worth $1,529,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CSCO. Sandy Cove Advisors LLC bought a new stake in shares of Cisco Systems in the 4th quarter worth approximately $33,000. Evolution Advisers Inc. purchased a new position in Cisco Systems in the 4th quarter worth $33,000. Conrad Siegel Investment Advisors Inc. purchased a new stake in Cisco Systems during the first quarter valued at about $33,000. Regency Capital Management Inc. DE bought a new position in shares of Cisco Systems during the fourth quarter valued at about $34,000. Finally, Steward Financial Group LLC purchased a new position in shares of Cisco Systems in the fourth quarter worth about $36,000. Institutional investors own 73.18% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, SVP Prat Bhatt sold 607 shares of Cisco Systems stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $43.10, for a total value of $26,161.70. Following the completion of the transaction, the senior vice president now owns 79,855 shares of the company’s stock, valued at approximately $3,441,750.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Prat Bhatt sold 607 shares of the firm’s stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $43.10, for a total transaction of $26,161.70. Following the completion of the sale, the senior vice president now owns 79,855 shares of the company’s stock, valued at $3,441,750.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Maria Martinez sold 4,674 shares of the company’s stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $43.33, for a total value of $202,524.42. Following the completion of the transaction, the chief operating officer now directly owns 286,033 shares in the company, valued at $12,393,809.89. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,326 shares of company stock valued at $1,103,159. Insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CSCO. JPMorgan Chase & Co. restated a “neutral” rating and set a $51.00 target price (down from $62.00) on shares of Cisco Systems in a report on Thursday, July 14th. Cowen cut their target price on shares of Cisco Systems to $58.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. Jefferies Financial Group decreased their target price on shares of Cisco Systems from $65.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, May 19th. Credit Suisse Group dropped their price target on shares of Cisco Systems from $72.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, May 19th. Finally, Bank of America decreased their price objective on shares of Cisco Systems from $62.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, May 19th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $54.23.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $45.01 on Friday. The company’s fifty day moving average price is $43.96 and its 200-day moving average price is $49.96. The stock has a market cap of $186.38 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 2.23 and a beta of 0.97. The company has a current ratio of 1.49, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21. Cisco Systems, Inc. has a 12 month low of $40.82 and a 12 month high of $64.29.

Cisco Systems (NASDAQ:CSCOGet Rating) last announced its earnings results on Wednesday, May 18th. The network equipment provider reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. Cisco Systems had a net margin of 23.28% and a return on equity of 31.22%. The business had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $13.33 billion. During the same quarter last year, the firm earned $0.75 earnings per share. On average, equities analysts expect that Cisco Systems, Inc. will post 3 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 6th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.38%. The ex-dividend date was Tuesday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is 53.33%.

Cisco Systems Profile

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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.

See Also

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

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