Cresset Asset Management LLC Sells 25,057 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Cresset Asset Management LLC decreased its position in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 458,413 shares of the network equipment provider’s stock after selling 25,057 shares during the quarter. Cresset Asset Management LLC’s holdings in Cisco Systems were worth $23,159,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Roble Belko & Company Inc boosted its position in Cisco Systems by 77.1% during the fourth quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock worth $324,000 after purchasing an additional 2,788 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Cisco Systems in the fourth quarter valued at $28,685,000. Adage Capital Partners GP L.L.C. raised its stake in shares of Cisco Systems by 1.1% in the third quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock valued at $240,335,000 after purchasing an additional 49,700 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC raised its stake in shares of Cisco Systems by 0.6% in the fourth quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 192,674 shares of the network equipment provider’s stock valued at $9,734,000 after purchasing an additional 1,097 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its stake in Cisco Systems by 0.6% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 270,841 shares of the network equipment provider’s stock worth $13,683,000 after acquiring an additional 1,520 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on CSCO shares. Wells Fargo & Company increased their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 16th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Monday. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft increased their price objective on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Tuesday, April 9th. Finally, Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and increased their target price for the stock from $55.00 to $60.00 in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems has an average rating of “Hold” and a consensus price target of $56.47.

View Our Latest Research Report on Cisco Systems

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,378 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the transaction, the senior vice president now owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the transaction, the executive vice president now directly owns 191,559 shares in the company, valued at approximately $9,579,865.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 3,378 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value of $155,016.42. Following the transaction, the senior vice president now owns 52,953 shares of the company’s stock, valued at $2,430,013.17. The disclosure for this sale can be found here. Insiders have sold 43,224 shares of company stock valued at $2,030,547 in the last 90 days. 0.02% of the stock is currently owned by insiders.

Cisco Systems Stock Up 0.0 %

Shares of Cisco Systems stock opened at $45.85 on Tuesday. The business’s 50 day simple moving average is $47.66 and its 200 day simple moving average is $48.98. Cisco Systems, Inc. has a 52-week low of $45.27 and a 52-week high of $58.19. The firm has a market cap of $184.72 billion, a PE ratio of 15.44, a P/E/G ratio of 2.65 and a beta of 0.86. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89.

Cisco Systems (NASDAQ:CSCOGet Free Report) last announced its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same quarter last year, the firm earned $0.88 EPS. Cisco Systems’s revenue for the quarter was down 12.8% compared to the same quarter last year. On average, analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Cisco Systems Company Profile

(Free Report)

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. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

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

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