Barrett Asset Management LLC Has $26.26 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Barrett Asset Management LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 3.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 471,003 shares of the network equipment provider’s stock after selling 15,790 shares during the period. Barrett Asset Management LLC’s holdings in Cisco Systems were worth $26,263,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Achmea Investment Management B.V. raised its holdings in shares of Cisco Systems by 5.9% in the 1st quarter. Achmea Investment Management B.V. now owns 481,837 shares of the network equipment provider’s stock worth $26,867,000 after acquiring an additional 27,049 shares during the last quarter. Clark Capital Management Group Inc. grew its position in Cisco Systems by 57.7% in the 1st quarter. Clark Capital Management Group Inc. now owns 1,546,015 shares of the network equipment provider’s stock worth $86,206,000 after purchasing an additional 565,355 shares in the last quarter. PFS Investments Inc. grew its position in Cisco Systems by 19.2% in the 1st quarter. PFS Investments Inc. now owns 718,053 shares of the network equipment provider’s stock worth $40,039,000 after purchasing an additional 115,552 shares in the last quarter. SVB Wealth LLC grew its position in Cisco Systems by 4.8% in the 1st quarter. SVB Wealth LLC now owns 633,009 shares of the network equipment provider’s stock worth $35,296,000 after purchasing an additional 29,096 shares in the last quarter. Finally, Vista Investment Management grew its position in Cisco Systems by 2.1% in the 1st quarter. Vista Investment Management now owns 22,110 shares of the network equipment provider’s stock worth $1,233,000 after purchasing an additional 447 shares in the last quarter. Institutional investors and hedge funds own 71.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CSCO. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cisco Systems from $51.00 to $54.00 in a research report on Friday, August 19th. Jefferies Financial Group upped their price objective on shares of Cisco Systems from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, August 18th. Evercore ISI upped their price objective on shares of Cisco Systems from $50.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, August 18th. Cowen increased their target price on shares of Cisco Systems from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, August 18th. Finally, Credit Suisse Group increased their target price on shares of Cisco Systems from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.59.

Insider Buying and Selling

In related news, SVP Prat Bhatt sold 607 shares of Cisco Systems stock in a transaction on Monday, June 13th. The shares were sold at an average price of $43.10, for a total value of $26,161.70. Following the transaction, the senior vice president now owns 79,855 shares in the company, valued at approximately $3,441,750.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Cisco Systems news, COO Maria Martinez sold 2,831 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $48.39, for a total value of $136,992.09. Following the sale, the chief operating officer now owns 278,012 shares of the company’s stock, valued at approximately $13,453,000.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Prat Bhatt sold 607 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $3,441,750.50. The disclosure for this sale can be found here. Insiders have sold a total of 37,119 shares of company stock worth $1,746,628 in the last 90 days. 0.02% of the stock is owned by company insiders.

Cisco Systems Stock Performance

Cisco Systems stock opened at $45.77 on Friday. The firm’s fifty day moving average price is $45.01 and its 200-day moving average price is $48.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.43. The stock has a market cap of $189.53 billion, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 2.23 and a beta of 0.96. Cisco Systems, Inc. has a fifty-two week low of $40.82 and a fifty-two week high of $64.29.

Cisco Systems (NASDAQ:CSCOGet Rating) last issued its earnings results on Wednesday, August 17th. The network equipment provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The company had revenue of $13.10 billion for the quarter, compared to analysts’ expectations of $12.78 billion. Cisco Systems had a net margin of 22.91% and a return on equity of 31.12%. The firm’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 EPS. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.1 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Tuesday, October 4th. Cisco Systems’s payout ratio is presently 53.90%.

About Cisco Systems

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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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