Cisco Systems, Inc. (NASDAQ:CSCO) Stake Reduced by NORTHSTAR ASSET MANAGEMENT Co LLC

NORTHSTAR ASSET MANAGEMENT Co LLC cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,688 shares of the network equipment provider’s stock after selling 500 shares during the quarter. NORTHSTAR ASSET MANAGEMENT Co LLC’s holdings in Cisco Systems were worth $365,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Delos Wealth Advisors LLC raised its holdings in Cisco Systems by 1,666.7% during the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after buying an additional 600 shares during the period. DiNuzzo Private Wealth Inc. acquired a new stake in Cisco Systems during the 4th quarter worth about $33,000. Retirement Group LLC raised its holdings in Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after buying an additional 263 shares during the period. Tidemark LLC acquired a new stake in Cisco Systems during the 4th quarter worth about $41,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Cisco Systems during the 1st quarter valued at about $41,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Performance

Shares of CSCO stock traded up $0.93 during trading hours on Friday, reaching $49.46. 27,424,886 shares of the company’s stock were exchanged, compared to its average volume of 19,935,170. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $58.19. The stock has a market capitalization of $199.27 billion, a P/E ratio of 16.65, a P/E/G ratio of 2.97 and a beta of 0.85. The business has a fifty day moving average price of $46.74 and a 200-day moving average price of $47.88. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period in the previous year, the company earned $1.01 earnings per share. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. Analysts predict that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.23%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CSCO. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Thursday. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their target price for the company from $46.00 to $58.00 in a research note on Friday. Wells Fargo & Company boosted 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. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Thursday. Finally, StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $56.70.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 26,331 shares of the company’s 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 transaction, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Charles Robbins sold 26,331 shares of the company’s 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 transaction, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the transaction, the senior vice president now owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The disclosure for this sale can be found here. Insiders sold a total of 33,090 shares of company stock worth $1,522,231 over the last three months. 0.02% of the stock is currently owned by 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. 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.