Crestwood Advisors Group LLC trimmed its stake in Cisco Systems, Inc. (NASDAQ: CSCO – Get Rating) by 92.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,650 shares of the network equipment provider’s stock after selling 767,017 shares during the period. Crestwood Advisors Group LLC’s holdings in Cisco Systems were worth $ 3,438,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Bromfield Sneider Wealth Advisors bought a new position in shares of Cisco Systems in the first quarter worth approximately $ 45,000. Keene & Associates Inc. grew its position in Cisco Systems by 3.5% during the first quarter. Keene & Associates Inc. now owns 61,919 shares of the network equipment provider’s stock valued at $ 3,453,000 after acquiring an additional 2,122 shares during the last quarter. Kohmann Bosshard Financial Services LLC grew its position in Cisco Systems by 9.4% during the first quarter. Kohmann Bosshard Financial Services LLC now owns 4,888 shares of the network equipment provider’s stock valued at $ 273,000 after acquiring an additional 421 shares during the last quarter. Carnegie Capital Asset Management LLC grew its position in Cisco Systems by 7.6% during the first quarter. Carnegie Capital Asset Management LLC now owns 235,180 shares of the network equipment provider’s stock valued at $ 13,114,000 after acquiring an additional 16,591 shares during the last quarter. Finally, Salvus Wealth Management LLC grew its position in Cisco Systems by 3.6% during the first quarter. Salvus Wealth Management LLC now owns 18,550 shares of the network equipment provider’s stock valued at $ 1,034,000 after acquiring an additional 648 shares during the last quarter. Institutional investors own 73.18% of the company stock.
In other Cisco Systems news, CEO Charles Robbins sold 12,717 shares of the business’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $ 43.79, for a total value of $ 556,877.43. Following the completion of the transaction, the chief executive officer now owns 651,577 shares of the company stock, valued at approximately $ 28,532,556.83. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Maria Martinez sold 4,674 shares of the business’s 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 directly owns 286,033 shares of the company stock, valued at approximately $ 12,393,809.89. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,326 shares of company stock valued at $ 1,103,159. 0.02% of the stock is owned by insiders.
CSCO has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Cisco Systems from $ 59.00 to $ 51.00 and set a “hold” rating on the stock in a research report on Thursday, May 19th. JPMorgan Chase & Co. reduced their price target on shares of Cisco Systems from $ 67.00 to $ 62.00 and set an “overweight” rating on the stock in a research report on Thursday, May 19th. Cowen reduced their price target on shares of Cisco Systems to $ 58.00 and set a “neutral” rating on the stock in a research report on Thursday, May 19th. TheStreet cut shares of Cisco Systems from a “b” rating to a “c +” rating in a report on Wednesday, June 15th. Finally, UBS Group cut their target price on shares of Cisco Systems from $ 59.00 to $ 46.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $ 55.05.
CSCO opened at $ 44.14 on Wednesday. The stock has a 50-day moving average price of $ 47.41 and a 200-day moving average price of $ 53.84. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.49 and a quick ratio of 1.40. The firm has a market cap of $ 182.78 billion, a PE ratio of 15.49, a P / E / G ratio of 2.23 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.
Cisco Systems (NASDAQ: CSCO – Get Rating) last posted its quarterly 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 period last year, the firm posted $ 0.75 earnings per share. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.99 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Wednesday, July 6th will be given a $ 0.38 dividend. This represents a $ 1.52 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Tuesday, July 5th. Cisco Systems’s dividend payout ratio is presently 53.33%.
About Cisco Systems: (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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