Eagle Ridge Investment Management Sells 4,384 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Eagle Ridge Investment Management trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 30.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,880 shares of the network equipment provider’s stock after selling 4,384 shares during the quarter. Eagle Ridge Investment Management’s holdings in Cisco Systems were worth $499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Waddell & Associates LLC increased its stake in Cisco Systems by 0.8% in the 3rd quarter. Waddell & Associates LLC now owns 24,693 shares of the network equipment provider’s stock worth $1,328,000 after buying an additional 191 shares in the last quarter. Sax Wealth Advisors LLC lifted its stake in Cisco Systems by 3.6% in the third quarter. Sax Wealth Advisors LLC now owns 5,686 shares of the network equipment provider’s stock worth $306,000 after purchasing an additional 196 shares during the last quarter. Winch Advisory Services LLC lifted its stake in Cisco Systems by 19.3% in the third quarter. Winch Advisory Services LLC now owns 1,232 shares of the network equipment provider’s stock worth $66,000 after purchasing an additional 199 shares during the last quarter. Lodestone Wealth Management LLC lifted its stake in Cisco Systems by 0.6% in the third quarter. Lodestone Wealth Management LLC now owns 36,587 shares of the network equipment provider’s stock worth $1,967,000 after purchasing an additional 205 shares during the last quarter. Finally, Gill Capital Partners LLC lifted its stake in Cisco Systems by 5.2% in the third quarter. Gill Capital Partners LLC now owns 4,155 shares of the network equipment provider’s stock worth $223,000 after purchasing an additional 207 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Cisco Systems in a research note on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on shares of Cisco Systems in a research note on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Citigroup initiated coverage on shares of Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 price target for the company. Finally, Barclays lifted their price target on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $55.53.

Cisco Systems Stock Performance

Shares of CSCO traded down $0.10 during trading hours on Monday, reaching $47.76. 6,041,367 shares of the company traded hands, compared to its average volume of 19,186,920. The stock has a market capitalization of $193.39 billion, a P/E ratio of 14.55, a P/E/G ratio of 2.76 and a beta of 0.87. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. Cisco Systems, Inc. has a 12-month low of $45.56 and a 12-month high of $58.19. The business has a fifty day moving average price of $48.94 and a 200-day moving average price of $50.01.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.76 earnings per share. Equities analysts anticipate that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Thursday, April 4th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 3.35%. Cisco Systems’s payout ratio is currently 48.63%.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the transaction, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the sale, the executive vice president now owns 191,559 shares in the company, valued at approximately $9,579,865.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock worth $972,080 over the last three months. Company insiders own 0.02% of the company’s stock.

Cisco Systems 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. 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.