SlateStone Wealth LLC Has $373,000 Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

SlateStone Wealth LLC decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 12.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,880 shares of the network equipment provider’s stock after selling 800 shares during the quarter. SlateStone Wealth LLC’s holdings in Cisco Systems were worth $373,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legacy Private Trust Co. boosted its holdings in Cisco Systems by 0.3% in the 4th quarter. Legacy Private Trust Co. now owns 119,870 shares of the network equipment provider’s stock valued at $7,596,000 after purchasing an additional 349 shares during the period. Formidable Asset Management LLC boosted its holdings in Cisco Systems by 111.8% in the 3rd quarter. Formidable Asset Management LLC now owns 31,331 shares of the network equipment provider’s stock valued at $1,705,000 after purchasing an additional 16,538 shares during the period. Ensign Peak Advisors Inc boosted its holdings in Cisco Systems by 2.0% in the 3rd quarter. Ensign Peak Advisors Inc now owns 3,430,765 shares of the network equipment provider’s stock valued at $186,736,000 after purchasing an additional 67,518 shares during the period. Breakline Capital LLC boosted its holdings in Cisco Systems by 366.6% in the 3rd quarter. Breakline Capital LLC now owns 128,528 shares of the network equipment provider’s stock valued at $6,996,000 after purchasing an additional 100,980 shares during the period. Finally, Balyasny Asset Management LLC bought a new stake in Cisco Systems in the 3rd quarter valued at $10,022,000. 71.94% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently commented on CSCO. Citigroup raised their price objective on shares of Cisco Systems from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, December 22nd. StockNews.com began coverage on shares of Cisco Systems in a report on Thursday, March 31st. They set a “buy” rating for the company. Raymond James reduced their price objective on shares of Cisco Systems from $64.00 to $63.00 and set an “outperform” rating for the company in a report on Thursday, February 17th. Barclays raised their price objective on shares of Cisco Systems from $61.00 to $68.00 in a report on Thursday, February 17th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Cisco Systems from $70.00 to $69.00 in a research report on Thursday, January 20th. Thirteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $63.63.

In other Cisco Systems news, SVP Prat Bhatt sold 3,623 shares of the company’s stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $56.40, for a total value of $204,337.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 15,382 shares of the company’s stock in a transaction on Thursday, February 24th. The shares were sold at an average price of $53.86, for a total transaction of $828,474.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,605 shares of company stock worth $1,121,147. 0.02% of the stock is owned by corporate insiders.

Shares of NASDAQ CSCO traded down $0.35 during midday trading on Friday, reaching $54.28. The company’s stock had a trading volume of 18,148,166 shares, compared to its average volume of 21,795,838. The company has a current ratio of 1.42, a quick ratio of 1.34 and a debt-to-equity ratio of 0.23. Cisco Systems, Inc. has a fifty-two week low of $50.10 and a fifty-two week high of $64.29. The stock has a market capitalization of $225.49 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.70 and a beta of 0.96. The stock has a 50 day simple moving average of $55.35 and a 200-day simple moving average of $56.80.

Cisco Systems (NASDAQ:CSCOGet Rating) last posted its quarterly earnings data on Wednesday, February 16th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04. Cisco Systems had a net margin of 22.94% and a return on equity of 30.95%. The company had revenue of $12.72 billion for the quarter, compared to the consensus estimate of $12.67 billion. During the same period last year, the company earned $0.71 earnings per share. The firm’s revenue was up 6.4% compared to the same quarter last year. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.09 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 27th. Investors of record on Wednesday, April 6th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.80%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, April 5th. Cisco Systems’s payout ratio is presently 54.29%.

Cisco Systems announced that its Board of Directors has initiated a share buyback plan on Wednesday, February 16th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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

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