Carret Asset Management LLC Lowers Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Carret Asset Management LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 0.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 217,439 shares of the network equipment provider’s stock after selling 824 shares during the period. Cisco Systems accounts for about 1.4% of Carret Asset Management LLC’s holdings, making the stock its 11th biggest position. Carret Asset Management LLC’s holdings in Cisco Systems were worth $12,124,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CSCO. Cantor Fitzgerald Investment Advisor L.P grew its position in Cisco Systems by 47.8% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 454,280 shares of the network equipment provider’s stock valued at $25,330,000 after buying an additional 146,925 shares during the last quarter. Griffin Asset Management Inc. grew its position in Cisco Systems by 8.2% in the 1st quarter. Griffin Asset Management Inc. now owns 6,841 shares of the network equipment provider’s stock valued at $381,000 after buying an additional 520 shares during the last quarter. First Affirmative Financial Network grew its position in Cisco Systems by 15.0% in the 1st quarter. First Affirmative Financial Network now owns 9,084 shares of the network equipment provider’s stock valued at $507,000 after buying an additional 1,188 shares during the last quarter. First American Trust FSB boosted its position in shares of Cisco Systems by 14.6% during the 1st quarter. First American Trust FSB now owns 9,423 shares of the network equipment provider’s stock worth $525,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Old Port Advisors boosted its position in shares of Cisco Systems by 0.4% during the 1st quarter. Old Port Advisors now owns 54,035 shares of the network equipment provider’s stock worth $3,008,000 after purchasing an additional 195 shares in the last quarter. Institutional investors and hedge funds own 73.18% of the company’s stock.

In other Cisco Systems news, CEO Charles Robbins sold 12,717 shares of the stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $43.79, for a total value of $556,877.43. Following the sale, the chief executive officer now directly owns 651,577 shares of the company’s stock, valued at $28,532,556.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Maria Martinez sold 3,628 shares of the stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $43.34, for a total value of $157,237.52. Following the completion of the transaction, the chief operating officer now directly owns 295,305 shares of the company’s stock, valued at approximately $12,798,518.70. The disclosure for this sale can be found here. Insiders sold 25,326 shares of company stock worth $1,103,159 over the last ninety days. 0.02% of the stock is owned by corporate insiders.

CSCO has been the subject of several research reports. Wells Fargo & Company cut their price target on Cisco Systems from $65.00 to $52.00 and set an “equal weight” rating for the company in a research note on Thursday, May 19th. StockNews.com began coverage on Cisco Systems in a research note on Thursday, March 31st. They set a “buy” rating for the company. Oppenheimer dropped their price objective on shares of Cisco Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, May 19th. KGI Securities raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 19th. Finally, Cowen dropped their price objective on shares of Cisco Systems to $58.00 and set a “neutral” rating for the company in a research note on Thursday, May 19th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.05.

CSCO stock opened at $43.57 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21. The firm has a market cap of $180.42 billion, a P/E ratio of 15.29, a P/E/G ratio of 2.27 and a beta of 0.99. Cisco Systems, Inc. has a 12-month low of $41.02 and a 12-month high of $64.29. The stock’s 50 day simple moving average is $47.24 and its 200 day simple moving average is $53.77.

Cisco Systems (NASDAQ:CSCOGet Rating) last posted its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.01. Cisco Systems had a return on equity of 31.22% and a net margin of 23.28%. During the same quarter last year, the company posted $0.75 EPS. On average, research analysts forecast that Cisco Systems, Inc. will post 2.99 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 6th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Tuesday, July 5th. Cisco Systems’s dividend payout ratio is presently 53.33%.

Cisco Systems Profile (Get Rating)

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.

Featured Stories

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.