Pine Haven Investment Counsel Inc Acquires 308 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Pine Haven Investment Counsel Inc boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 5.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,443 shares of the network equipment provider’s stock after acquiring an additional 308 shares during the quarter. Pine Haven Investment Counsel Inc’s holdings in Cisco Systems were worth $359,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sandy Cove Advisors LLC bought a new position in Cisco Systems in the 4th quarter valued at approximately $33,000. Evolution Advisers Inc. bought a new position in shares of Cisco Systems during the 4th quarter valued at $33,000. Conrad Siegel Investment Advisors Inc. bought a new position in shares of Cisco Systems during the 1st quarter valued at $33,000. Regency Capital Management Inc. DE bought a new position in shares of Cisco Systems during the 4th quarter valued at $34,000. Finally, Steward Financial Group LLC bought a new position in shares of Cisco Systems during the 4th quarter valued at $36,000. 73.18% of the stock is owned by institutional investors.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded down $0.68 during trading on Friday, reaching $44.70. 515,566 shares of the stock traded hands, compared to its average volume of 17,325,382. The company has a market capitalization of $185.10 billion, a price-to-earnings ratio of 15.92, a P/E/G ratio of 2.25 and a beta of 0.97. The business has a fifty day simple moving average of $43.98 and a two-hundred day simple moving average of $50.06. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.49 and a quick ratio of 1.40. Cisco Systems, Inc. has a 52-week low of $40.82 and a 52-week high of $64.29.

Cisco Systems (NASDAQ:CSCOGet Rating) last released its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.77 by $0.01. The company had revenue of $12.84 billion during the quarter, compared to analyst estimates of $13.33 billion. Cisco Systems had a return on equity of 31.22% and a net margin of 23.28%. During the same quarter last year, the business posted $0.75 earnings per share. Sell-side analysts expect that Cisco Systems, Inc. will post 3 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th were given a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, July 5th. This represents a $1.52 annualized dividend and a yield of 3.40%. Cisco Systems’s dividend payout ratio is currently 53.33%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CSCO shares. KGI Securities cut Cisco Systems from an “outperform” rating to a “neutral” rating in a report on Friday, July 15th. UBS Group lowered their price target on Cisco Systems from $59.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. Oppenheimer lowered their price target on Cisco Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, May 19th. Cowen decreased their target price on Cisco Systems to $58.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. Finally, Morgan Stanley decreased their target price on Cisco Systems from $59.00 to $46.00 and set an “equal weight” rating on the stock in a report on Thursday, May 19th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and a consensus price target of $54.23.

Insider Buying and Selling

In related news, COO Maria Martinez sold 4,674 shares of Cisco Systems stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $43.33, for a total value of $202,524.42. Following the completion of the transaction, the chief operating officer now owns 286,033 shares in the company, valued at $12,393,809.89. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Cisco Systems news, COO Maria Martinez sold 4,674 shares of the firm’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $43.33, for a total value of $202,524.42. Following the completion of the sale, the chief operating officer now owns 286,033 shares of the company’s stock, valued at $12,393,809.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Prat Bhatt sold 607 shares of the firm’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $43.10, for a total transaction of $26,161.70. Following the completion of the sale, the senior vice president now directly owns 79,855 shares of the company’s stock, valued at approximately $3,441,750.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,326 shares of company stock worth $1,103,159. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Profile

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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.

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

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