Baxter Bros Inc. Sells 4,688 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Baxter Bros Inc. reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 51.3% in the 4th quarter, HoldingsChannel reports. The fund owned 4,446 shares of the network equipment provider’s stock after selling 4,688 shares during the period. Baxter Bros Inc.’s holdings in Cisco Systems were worth $225,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CSCO. Provence Wealth Management Group lifted its position in shares of Cisco Systems by 3.0% in the 4th quarter. Provence Wealth Management Group now owns 13,565 shares of the network equipment provider’s stock worth $685,000 after purchasing an additional 399 shares during the period. VeraBank N.A. boosted its position in Cisco Systems by 1.3% during the fourth quarter. VeraBank N.A. now owns 21,035 shares of the network equipment provider’s stock valued at $1,063,000 after acquiring an additional 276 shares during the last quarter. Sapient Capital LLC acquired a new stake in Cisco Systems during the 4th quarter worth about $1,375,000. Axxcess Wealth Management LLC raised its position in shares of Cisco Systems by 8.1% in the 4th quarter. Axxcess Wealth Management LLC now owns 134,839 shares of the network equipment provider’s stock worth $6,812,000 after acquiring an additional 10,136 shares in the last quarter. Finally, Signature Resources Capital Management LLC acquired a new position in shares of Cisco Systems in the 4th quarter valued at about $231,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Up 0.7 %

Shares of CSCO stock traded up $0.33 on Friday, hitting $47.12. The stock had a trading volume of 17,935,302 shares, compared to its average volume of 17,219,910. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The business has a 50 day moving average of $48.79 and a 200 day moving average of $49.83. Cisco Systems, Inc. has a 12-month low of $45.56 and a 12-month high of $58.19. The stock has a market cap of $190.80 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 2.70 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The firm had revenue of $12.79 billion during the quarter, compared to analyst estimates of $12.71 billion. During the same quarter last year, the business posted $0.76 EPS. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, analysts expect that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.40%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date was Wednesday, April 3rd. Cisco Systems’s payout ratio is presently 48.63%.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a 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 target price on the stock. Barclays raised their price target on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. UBS Group upped their price objective on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Finally, Melius downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $55.53.

Insider Buying and Selling

In other news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the transaction, the executive vice president now owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is owned by insiders.

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.