Cobblestone Capital Advisors LLC NY lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,095 shares of the network equipment provider’s stock after selling 1,194 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Cisco Systems were worth $1,391,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Costello Asset Management INC purchased a new position in shares of Cisco Systems in the fourth quarter valued at $26,000. Bainco International Investors purchased a new position in shares of Cisco Systems in the fourth quarter valued at $30,000. Goodwin Investment Advisory purchased a new position in shares of Cisco Systems in the fourth quarter valued at $31,000. Legal Advantage Investments Inc. purchased a new position in shares of Cisco Systems in the fourth quarter valued at $47,000. Finally, Ellevest Inc. increased its position in shares of Cisco Systems by 33.2% in the third quarter. Ellevest Inc. now owns 1,478 shares of the network equipment provider’s stock valued at $58,000 after buying an additional 368 shares in the last quarter. Institutional investors and hedge funds own 70.62% of the company’s stock.
A number of analysts recently commented on the company. Oppenheimer reiterated a “buy” rating and set a $50.00 price objective on shares of Cisco Systems in a research report on Tuesday, February 9th. Raymond James lifted their price objective on Cisco Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 10th. Smith Barney Citigroup lifted their price objective on Cisco Systems from $43.00 to $45.00 in a research report on Friday, November 13th. JPMorgan Chase & Co. lifted their price objective on Cisco Systems from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, January 25th. Finally, New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Friday, November 13th. Sixteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $48.63.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Tuesday, February 9th. The network equipment provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.03. Cisco Systems had a return on equity of 32.64% and a net margin of 21.76%. During the same period last year, the company posted $0.77 EPS. On average, research analysts forecast that Cisco Systems, Inc. will post 2.86 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 28th. Investors of record on Tuesday, April 6th will be issued a dividend of $0.37 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Monday, April 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 49.32%.
In related news, EVP Maria Martinez sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, December 1st. The stock was sold at an average price of $44.00, for a total transaction of $88,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kelly A. Kramer sold 45,000 shares of the firm’s stock in a transaction dated Friday, November 27th. The shares were sold at an average price of $42.81, for a total value of $1,926,450.00. Following the sale, the chief financial officer now owns 297,078 shares in the company, valued at $12,717,909.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,530 shares of company stock worth $3,338,858. Company insiders own 0.02% of the company’s stock.
Cisco Systems Company Profile
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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