RMB Capital Management LLC trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,475 shares of the network equipment provider’s stock after selling 1,833 shares during the period. RMB Capital Management LLC’s holdings in Cisco Systems were worth $1,059,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CSCO. Costello Asset Management INC purchased a new stake in shares of Cisco Systems in the fourth quarter worth $26,000. Navis Wealth Advisors LLC bought a new position in shares of Cisco Systems during the fourth quarter valued at $30,000. Better Money Decisions LLC bought a new position in shares of Cisco Systems during the first quarter valued at $30,000. Defined Wealth Management LLC bought a new position in shares of Cisco Systems during the fourth quarter valued at $34,000. Finally, Stuart Chaussee & Associates Inc. lifted its holdings in shares of Cisco Systems by 43.2% during the first quarter. Stuart Chaussee & Associates Inc. now owns 716 shares of the network equipment provider’s stock valued at $37,000 after purchasing an additional 216 shares in the last quarter. 72.16% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ CSCO opened at $55.03 on Friday. The stock has a market cap of $231.91 billion, a PE ratio of 22.83, a PEG ratio of 3.02 and a beta of 0.91. The company’s 50 day moving average price is $52.43. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.53 and a quick ratio of 1.46. Cisco Systems, Inc. has a 1-year low of $35.28 and a 1-year high of $55.08.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 28th. Investors of record on Tuesday, July 6th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Friday, July 2nd. Cisco Systems’s dividend payout ratio is currently 50.68%.
CSCO has been the topic of a number of research analyst reports. Robert W. Baird reissued a “hold” rating on shares of Cisco Systems in a report on Tuesday, May 11th. KeyCorp reissued a “sector weight” rating on shares of Cisco Systems in a report on Thursday, April 29th. The Goldman Sachs Group raised Cisco Systems from a “neutral” rating to a “buy” rating and increased their target price for the company from $50.00 to $59.00 in a report on Thursday, March 25th. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and set a $55.00 target price on the stock in a report on Thursday, March 11th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Cisco Systems in a research note on Tuesday, April 20th. They issued a “hold” rating and a $55.00 price objective on the stock. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $51.85.
In other Cisco Systems news, SVP Prat Bhatt sold 3,829 shares of Cisco Systems stock in a transaction on Monday, May 24th. The stock was sold at an average price of $53.50, for a total transaction of $204,851.50. Following the completion of the sale, the senior vice president now directly owns 106,222 shares of the company’s stock, valued at approximately $5,682,877. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Charles Robbins sold 7,584 shares of Cisco Systems stock in a transaction on Wednesday, May 26th. The shares were sold at an average price of $53.11, for a total value of $402,786.24. The disclosure for this sale can be found here. Insiders have sold a total of 37,395 shares of company stock valued at $1,970,410 over the last three months. 0.02% of the stock is owned by corporate insiders.
Cisco Systems Company 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. 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.
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