Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Tufton Capital Management

Tufton Capital Management decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 116,322 shares of the network equipment provider’s stock after selling 4,250 shares during the quarter. Tufton Capital Management’s holdings in Cisco Systems were worth $5,877,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Cisco Systems in the third quarter valued at about $27,000. Valued Wealth Advisors LLC purchased a new position in Cisco Systems in the 4th quarter worth approximately $32,000. Fortis Capital Advisors LLC purchased a new position in Cisco Systems in the 4th quarter worth approximately $34,000. Morton Brown Family Wealth LLC boosted its holdings in shares of Cisco Systems by 41.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares during the last quarter. Finally, Bourgeon Capital Management LLC grew its position in shares of Cisco Systems by 3,500.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Morgan Stanley assumed coverage on Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price objective on the stock. Barclays raised their price objective on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Wells Fargo & Company started coverage on Cisco Systems in a research note on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price target on the stock. Finally, Citigroup initiated coverage on Cisco Systems in a research note on Friday, April 12th. They issued a “neutral” rating and a $52.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems has a consensus rating of “Hold” and a consensus target price of $56.03.

Cisco Systems Stock Performance

Shares of CSCO stock traded up $0.23 during midday trading on Thursday, hitting $48.02. The company had a trading volume of 3,873,294 shares, compared to its average volume of 19,365,287. 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 company’s 50 day simple moving average is $49.14 and its 200 day simple moving average is $50.31. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19. The stock has a market cap of $194.44 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 2.75 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. Cisco Systems’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 EPS. Research analysts anticipate that Cisco Systems, Inc. will post 3.14 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 24th. Shareholders of record on Thursday, April 4th will be given a dividend of $0.40 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Wednesday, April 3rd. Cisco Systems’s payout ratio is presently 48.63%.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at $2,906,050. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Richard Scott Herren sold 13,942 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock valued at $972,080 in the last ninety days. 0.02% of the stock is currently owned by company insiders.

About Cisco Systems

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.