Gibraltar Capital Management Inc. Sells 4,476 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Gibraltar Capital Management Inc. lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 22.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,057 shares of the network equipment provider’s stock after selling 4,476 shares during the period. Gibraltar Capital Management Inc.’s holdings in Cisco Systems were worth $761,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. FMR LLC lifted its holdings in Cisco Systems by 3.2% in the third quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock worth $3,069,815,000 after buying an additional 1,790,717 shares during the period. Northern Trust Corp boosted its position in shares of Cisco Systems by 3.8% during the third quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock valued at $2,717,537,000 after purchasing an additional 1,847,682 shares in the last quarter. Invesco Ltd. raised its holdings in Cisco Systems by 3.7% in the third quarter. Invesco Ltd. now owns 33,536,256 shares of the network equipment provider’s stock worth $1,802,909,000 after purchasing an additional 1,181,327 shares in the last quarter. California Public Employees Retirement System lifted its position in Cisco Systems by 25.0% during the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock valued at $947,262,000 after buying an additional 3,753,165 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of Cisco Systems by 3.7% during the 3rd quarter. AQR Capital Management LLC now owns 11,376,937 shares of the network equipment provider’s stock valued at $611,624,000 after buying an additional 405,699 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Melius lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Melius Research reiterated a “hold” rating and set a $55.00 price objective on shares of Cisco Systems in a research note on Monday, January 8th. Wells Fargo & Company initiated coverage on Cisco Systems in a report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price target for the company. Barclays increased their price objective on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and an average price target of $55.53.

Insider Buying and Selling

In other news, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the transaction, the senior vice president now owns 58,121 shares in the company, valued at $2,906,050. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction 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 approximately $16,424,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the sale, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock worth $972,080 in the last ninety days. 0.02% of the stock is owned by insiders.

Cisco Systems Price Performance

Shares of CSCO traded down $0.80 during mid-day trading on Tuesday, reaching $46.98. The stock had a trading volume of 18,531,437 shares, compared to its average volume of 19,243,893. The firm has a market cap of $190.23 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 2.76 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The business has a fifty day moving average of $48.90 and a 200 day moving average of $49.92. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm had revenue of $12.79 billion during the quarter, compared to analyst estimates of $12.71 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. Equities analysts predict that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were given a $0.40 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.41%. Cisco Systems’s dividend payout ratio (DPR) is presently 48.63%.

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.