Cisco Systems, Inc. (CSCO) Stake Lessened by Barrett Asset Management LLC

Barrett Asset Management LLC lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 622,881 shares of the network equipment provider’s stock after selling 1,450 shares during the quarter. Cisco Systems accounts for approximately 1.5% of Barrett Asset Management LLC’s holdings, making the stock its 29th biggest position. Barrett Asset Management LLC’s holdings in Cisco Systems were worth $19,496,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of CSCO. Barnett & Company Inc. increased its holdings in Cisco Systems by 1,511.5% in the 2nd quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after buying an additional 3,023 shares in the last quarter. Watermark Asset Management Inc. bought a new stake in Cisco Systems in the 1st quarter worth about $122,000. Grove Bank & Trust increased its holdings in Cisco Systems by 141.3% in the 2nd quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock worth $113,000 after buying an additional 2,120 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its holdings in Cisco Systems by 15.0% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock worth $145,000 after buying an additional 560 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. increased its holdings in Cisco Systems by 23.1% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 4,393 shares of the network equipment provider’s stock worth $148,000 after buying an additional 823 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently commented on CSCO. BMO Capital Markets reiterated a “hold” rating and issued a $32.00 price objective on shares of Cisco Systems in a report on Monday, October 23rd. Credit Suisse Group restated a “buy” rating on shares of Cisco Systems in a research note on Thursday, August 10th. Sanford C. Bernstein restated an “outperform” rating and set a $38.00 price target on shares of Cisco Systems in a research note on Sunday, August 20th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Tuesday, October 24th. Finally, Vetr downgraded Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 price target for the company. in a research note on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $35.30.

In other Cisco Systems news, SVP Mark D. Chandler sold 65,000 shares of Cisco Systems stock in a transaction on Monday, September 18th. The stock was sold at an average price of $32.43, for a total value of $2,107,950.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Prat Bhatt sold 25,638 shares of Cisco Systems stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $821,954.28. Following the completion of the sale, the chief accounting officer now owns 119,996 shares in the company, valued at approximately $3,847,071.76. The disclosure for this sale can be found here. Insiders sold 485,138 shares of company stock worth $15,347,574 in the last 90 days. Company insiders own 0.05% of the company’s stock.

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Cisco Systems, Inc. (CSCO) opened at 34.04 on Tuesday. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $34.73. The firm has a 50-day moving average price of $33.44 and a 200 day moving average price of $32.40. The company has a market cap of $168.56 billion, a P/E ratio of 17.92 and a beta of 1.21.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.61. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The company had revenue of $12.13 billion for the quarter, compared to the consensus estimate of $12.07 billion. During the same quarter in the previous year, the business earned $0.63 earnings per share. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. Equities research analysts predict that Cisco Systems, Inc. will post $2.43 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th were given a $0.29 dividend. The ex-dividend date was Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a yield of 3.41%. Cisco Systems’s dividend payout ratio is currently 60.73%.

Cisco Systems Profile

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

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

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