Burke & Herbert Bank & Trust Co. lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 2.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,389 shares of the network equipment provider’s stock after selling 662 shares during the period. Cisco Systems comprises 1.0% of Burke & Herbert Bank & Trust Co.’s portfolio, making the stock its 29th largest holding. Burke & Herbert Bank & Trust Co.’s holdings in Cisco Systems were worth $1,527,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Legacy Private Trust Co. boosted its stake in Cisco Systems by 0.3% during the fourth quarter. Legacy Private Trust Co. now owns 119,870 shares of the network equipment provider’s stock worth $7,596,000 after buying an additional 349 shares in the last quarter. Tobias Financial Advisors Inc. acquired a new stake in Cisco Systems during the fourth quarter worth $1,062,000. Pure Financial Advisors LLC lifted its holdings in shares of Cisco Systems by 4.9% during the first quarter. Pure Financial Advisors LLC now owns 6,195 shares of the network equipment provider’s stock valued at $345,000 after acquiring an additional 287 shares during the period. Spire Wealth Management lifted its holdings in shares of Cisco Systems by 8.6% during the fourth quarter. Spire Wealth Management now owns 86,355 shares of the network equipment provider’s stock valued at $5,468,000 after acquiring an additional 6,867 shares during the period. Finally, Wedmont Private Capital bought a new position in shares of Cisco Systems during the fourth quarter valued at $1,159,000. Hedge funds and other institutional investors own 73.18% of the company’s stock.
A number of brokerages have issued reports on CSCO. Bank of America cut their price objective on Cisco Systems from $62.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, May 19th. The Goldman Sachs Group cut their price objective on Cisco Systems from $64.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, May 20th. Cowen cut their price objective on Cisco Systems to $58.00 and set a “neutral” rating for the company in a report on Thursday, May 19th. Credit Suisse Group cut their price objective on Cisco Systems from $72.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, May 19th. Finally, KGI Securities raised Cisco Systems from a “neutral” rating to an “outperform” rating in a report on Thursday, May 19th. One equity research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.05.
In other news, CEO Charles Robbins sold 12,717 shares of the company’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $43.79, for a total transaction of $556,877.43. Following the sale, the chief executive officer now owns 651,577 shares in the company, valued at approximately $28,532,556.83. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Maria Martinez sold 3,628 shares of the stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $43.34, for a total value of $157,237.52. Following the completion of the sale, the chief operating officer now owns 295,305 shares in the company, valued at approximately $12,798,518.70. The disclosure for this sale can be found here. Insiders sold a total of 25,326 shares of company stock valued at $1,103,159 over the last quarter. 0.02% of the stock is owned by insiders.
Cisco Systems stock opened at $42.64 on Friday. The firm has a market capitalization of $176.57 billion, a P/E ratio of 14.96, a PEG ratio of 2.27 and a beta of 0.99. Cisco Systems, Inc. has a 1 year low of $41.02 and a 1 year high of $64.29. The business has a 50-day moving average of $46.21 and a 200-day moving average of $53.16. The company has a current ratio of 1.49, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21.
Cisco Systems (NASDAQ:CSCO – Get Rating) last posted its earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping 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 earnings per share. Research analysts anticipate that Cisco Systems, Inc. will post 2.99 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be given a $0.38 dividend. The ex-dividend date of this dividend is Tuesday, July 5th. This represents a $1.52 annualized dividend and a dividend yield of 3.56%. Cisco Systems’s dividend payout ratio is currently 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.
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