Hemenway Trust Co LLC Reduces Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Hemenway Trust Co LLC trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,925 shares of the network equipment provider’s stock after selling 448 shares during the quarter. Hemenway Trust Co LLC’s holdings in Cisco Systems were worth $396,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in CSCO. Mcintyre Freedman & Flynn Investment Advisers Inc. grew its holdings in Cisco Systems by 0.3% in the 4th quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock valued at $3,019,000 after buying an additional 202 shares in the last quarter. Hyman Charles D grew its holdings in Cisco Systems by 0.3% in the 4th quarter. Hyman Charles D now owns 70,727 shares of the network equipment provider’s stock valued at $3,573,000 after buying an additional 203 shares in the last quarter. Madrona Financial Services LLC grew its holdings in Cisco Systems by 2.4% in the 4th quarter. Madrona Financial Services LLC now owns 8,970 shares of the network equipment provider’s stock valued at $453,000 after buying an additional 207 shares in the last quarter. Morton Brown Family Wealth LLC grew its holdings in Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 208 shares in the last quarter. Finally, Baker Boyer National Bank grew its holdings in Cisco Systems by 2.6% in the 1st quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock valued at $411,000 after buying an additional 210 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upped their target price on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. Citigroup assumed coverage on Cisco Systems in a research note on Friday, April 12th. They issued a “neutral” rating and a $52.00 price target on the stock. Wells Fargo & Company upped their price target on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Finally, Morgan Stanley assumed coverage on Cisco Systems in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price target on the stock. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.47.

Cisco Systems Stock Up 1.1 %

CSCO stock traded up $0.49 during mid-day trading on Thursday, reaching $46.76. The company had a trading volume of 19,741,432 shares, compared to its average volume of 19,592,980. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The company has a market capitalization of $188.39 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 2.67 and a beta of 0.85. The firm has a fifty day simple moving average of $46.89 and a 200 day simple moving average of $48.60. Cisco Systems, Inc. has a fifty-two week low of $44.95 and a fifty-two week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. Cisco Systems’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 EPS. Analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value of $155,016.42. Following the transaction, 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 document filed with the SEC, which is available at this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.34, for a total value of $118,745.46. Following the transaction, the executive vice president now owns 176,384 shares in the company, valued at approximately $7,997,250.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total value of $155,016.42. Following the completion of the transaction, the senior vice president now owns 52,953 shares in the company, valued at approximately $2,430,013.17. The disclosure for this sale can be found here. Insiders have sold 41,106 shares of company stock valued at $1,908,923 in the last quarter. Corporate insiders own 0.02% of the company’s stock.

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. 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.