Abner Herrman & Brock LLC Sells 225,022 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Abner Herrman & Brock LLC decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 97.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,345 shares of the network equipment provider’s stock after selling 225,022 shares during the period. Abner Herrman & Brock LLC’s holdings in Cisco Systems were worth $210,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Permanens Capital L.P. bought a new position in Cisco Systems in the fourth quarter worth approximately $31,000. Emerald Advisers LLC bought a new position in Cisco Systems in the fourth quarter worth approximately $38,000. Sageworth Trust Co raised its stake in Cisco Systems by 59.5% in the fourth quarter. Sageworth Trust Co now owns 804 shares of the network equipment provider’s stock worth $39,000 after buying an additional 300 shares in the last quarter. Efficient Wealth Management LLC bought a new position in Cisco Systems in the first quarter worth approximately $44,000. Finally, Robecosam AG raised its stake in Cisco Systems by 4.0% in the fourth quarter. Robecosam AG now owns 357,920 shares of the network equipment provider’s stock worth $48,000 after buying an additional 13,621 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

In related news, CEO Charles Robbins sold 3,910 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $46.53, for a total transaction of $181,932.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $41.17, for a total transaction of $2,881,900.00. Following the transaction, the chief financial officer now owns 308,241 shares of the company’s stock, valued at approximately $12,690,281.97. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,910 shares of company stock valued at $3,296,482. Insiders own 0.03% of the company’s stock.

Several equities analysts have issued reports on the stock. TheStreet lowered shares of Cisco Systems from a “b” rating to a “c+” rating in a report on Thursday, March 12th. Zacks Investment Research raised shares of Cisco Systems from a “sell” rating to a “hold” rating and set a $50.00 price target on the stock in a report on Wednesday, January 15th. Bank of America lowered shares of Cisco Systems from a “buy” rating to a “neutral” rating in a report on Wednesday, January 8th. Evercore ISI reaffirmed a “buy” rating on shares of Cisco Systems in a report on Sunday, December 15th. Finally, Robert W. Baird lifted their price target on shares of Cisco Systems from $52.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Twelve investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Cisco Systems has a consensus rating of “Buy” and a consensus target price of $51.78.

NASDAQ CSCO traded down $0.54 on Thursday, reaching $41.20. 27,642,461 shares of the company’s stock traded hands, compared to its average volume of 30,728,674. The firm has a market cap of $172.35 billion, a price-to-earnings ratio of 16.09, a P/E/G ratio of 2.67 and a beta of 1.03. The stock has a 50 day moving average price of $39.88 and a 200-day moving average price of $45.31. Cisco Systems, Inc. has a fifty-two week low of $32.40 and a fifty-two week high of $58.26. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.75 and a current ratio of 1.81.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The business had revenue of $12 billion during the quarter, compared to the consensus estimate of $11.98 billion. Cisco Systems had a net margin of 21.44% and a return on equity of 36.40%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 earnings per share. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 2.82 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd will be given a $0.36 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.50%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.35. Cisco Systems’s dividend payout ratio is 50.53%.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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

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