Carret Asset Management LLC Sells 2,339 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Carret Asset Management LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 197,587 shares of the network equipment provider’s stock after selling 2,339 shares during the period. Cisco Systems accounts for approximately 1.2% of Carret Asset Management LLC’s portfolio, making the stock its 16th largest holding. Carret Asset Management LLC’s holdings in Cisco Systems were worth $9,862,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Valued Wealth Advisors LLC bought a new position in shares of Cisco Systems in the fourth quarter worth approximately $32,000. Delos Wealth Advisors LLC increased its position in shares of Cisco Systems by 1,666.7% in the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after purchasing an additional 600 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new position in shares of Cisco Systems in the fourth quarter worth approximately $33,000. Morton Brown Family Wealth LLC increased its position in shares of Cisco Systems by 41.9% in the fourth 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 during the last quarter. Finally, Bourgeon Capital Management LLC increased its position in shares of Cisco Systems by 3,500.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 700 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Price Performance

Shares of CSCO traded down $0.09 during mid-day trading on Wednesday, hitting $47.19. 4,643,219 shares of the stock were exchanged, compared to its average volume of 19,629,650. The company has a market cap of $190.12 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 2.75 and a beta of 0.85. Cisco Systems, Inc. has a 52-week low of $44.95 and a 52-week high of $58.19. The firm has a 50-day moving average of $47.03 and a two-hundred day moving average of $48.75. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.18. The business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS. On average, equities analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, July 5th. This represents a $1.60 annualized dividend and a yield of 3.39%. Cisco Systems’s payout ratio is presently 53.87%.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the sale, the senior vice president now owns 52,953 shares in the company, valued at approximately $2,430,013.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value of $155,016.42. Following the sale, the senior vice president now owns 52,953 shares in the company, valued at $2,430,013.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Charles Robbins sold 26,331 shares of the 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 sale, the chief executive officer now owns 725,363 shares in the company, valued at approximately $33,439,234.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,106 shares of company stock worth $1,908,923. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price target for the company from $55.00 to $60.00 in a research report on Monday, April 15th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. assumed coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research report on Monday, June 10th. Finally, Oppenheimer increased their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $56.47.

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.