Congress Asset Management Co. MA Has $13.05 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Congress Asset Management Co. MA decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 7.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 258,377 shares of the network equipment provider’s stock after selling 21,994 shares during the period. Congress Asset Management Co. MA’s holdings in Cisco Systems were worth $13,053,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Valued Wealth Advisors LLC acquired a new position in shares of Cisco Systems during the 4th quarter valued at about $32,000. Delos Wealth Advisors LLC grew its holdings in Cisco Systems by 1,666.7% in the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after buying an additional 600 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in Cisco Systems in the 4th quarter valued at approximately $33,000. Morton Brown Family Wealth LLC grew its holdings in Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 208 shares during the last quarter. Finally, Bourgeon Capital Management LLC grew its holdings in Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 700 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

CSCO traded up $0.16 during trading on Friday, hitting $45.68. The company’s stock had a trading volume of 15,274,176 shares, compared to its average volume of 19,183,470. The firm’s 50 day moving average price is $47.41 and its two-hundred day moving average price is $48.91. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a 12 month low of $44.97 and a 12 month high of $58.19. The stock has a market capitalization of $184.04 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 2.65 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCOGet Free Report) last issued its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.18. The firm had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 EPS. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 annualized dividend and a dividend yield of 3.50%. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

Insider Activity

In other news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the sale, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the sale, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction on Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the sale, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,106 shares of company stock valued at $1,908,923. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Oppenheimer raised their price objective on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Morgan Stanley assumed coverage on Cisco Systems in a research report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price objective for the company. Finally, Wells Fargo & Company raised their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $56.47.

Check Out Our Latest Stock Report on Cisco Systems

About Cisco Systems

(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.

See Also

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCOFree Report).

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

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