Carret Asset Management LLC Reduces Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Carret Asset Management LLC lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 0.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 217,622 shares of the network equipment provider’s stock after selling 505 shares during the quarter. Cisco Systems makes up about 1.4% of Carret Asset Management LLC’s investment portfolio, making the stock its 13th largest holding. Carret Asset Management LLC’s holdings in Cisco Systems were worth $10,368,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Syverson Strege & Co raised its position in shares of Cisco Systems by 68.9% in the 2nd quarter. Syverson Strege & Co now owns 591 shares of the network equipment provider’s stock worth $25,000 after acquiring an additional 241 shares in the last quarter. Beaird Harris Wealth Management LLC raised its position in shares of Cisco Systems by 164.0% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 813 shares of the network equipment provider’s stock worth $35,000 after acquiring an additional 505 shares in the last quarter. JTC Employer Solutions Trustee Ltd raised its position in shares of Cisco Systems by 297.7% in the 3rd quarter. JTC Employer Solutions Trustee Ltd now owns 1,193 shares of the network equipment provider’s stock worth $48,000 after acquiring an additional 893 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of Cisco Systems in the 3rd quarter worth approximately $50,000. Finally, MBM Wealth Consultants LLC raised its position in shares of Cisco Systems by 186.4% in the 3rd quarter. MBM Wealth Consultants LLC now owns 1,220 shares of the network equipment provider’s stock worth $50,000 after acquiring an additional 794 shares in the last quarter. Hedge funds and other institutional investors own 71.10% of the company’s stock.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 23,701 shares of Cisco Systems stock in a transaction on Friday, February 17th. The stock was sold at an average price of $50.90, for a total transaction of $1,206,380.90. Following the transaction, the executive vice president now directly owns 184,853 shares in the company, valued at $9,409,017.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 23,701 shares of Cisco Systems stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $50.90, for a total value of $1,206,380.90. Following the sale, the executive vice president now directly owns 184,853 shares of the company’s stock, valued at $9,409,017.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 20,117 shares of Cisco Systems stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $49.08, for a total value of $987,342.36. Following the completion of the sale, the chief executive officer now directly owns 798,970 shares in the company, valued at $39,213,447.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,568 shares of company stock worth $2,376,624. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO opened at $50.19 on Friday. The business’s fifty day simple moving average is $48.59 and its two-hundred day simple moving average is $46.32. The company has a current ratio of 1.41, a quick ratio of 1.30 and a debt-to-equity ratio of 0.18. Cisco Systems, Inc. has a 12 month low of $38.60 and a 12 month high of $56.94. The company has a market cap of $205.57 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 2.26 and a beta of 1.00.

Cisco Systems (NASDAQ:CSCO – Get Rating) last released its quarterly earnings results on Wednesday, February 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.12. The firm had revenue of $13.59 billion for the quarter, compared to the consensus estimate of $13.41 billion. Cisco Systems had a return on equity of 31.19% and a net margin of 21.26%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the business posted $0.77 EPS. Research analysts anticipate that Cisco Systems, Inc. will post 3.34 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 26th. Investors of record on Wednesday, April 5th will be given a dividend of $0.39 per share. The ex-dividend date is Tuesday, April 4th. This is an increase from Cisco Systems’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a yield of 3.11%. Cisco Systems’s payout ratio is 55.68%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CSCO. Loop Capital increased their target price on Cisco Systems from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, February 16th. JPMorgan Chase & Co. increased their target price on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, February 16th. Tigress Financial reissued a “buy” rating and issued a $73.00 target price on shares of Cisco Systems in a research report on Friday. Credit Suisse Group raised their price objective on Cisco Systems from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Thursday, February 16th. Finally, Morgan Stanley raised their price objective on Cisco Systems from $52.00 to $55.00 and gave the company an “equal weight” rating in a research report on Thursday, February 16th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.38.

Cisco Systems Company Profile

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Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its products include the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.