Carret Asset Management LLC Raises Position in Cisco Systems, Inc. (CSCO)

Carret Asset Management LLC increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,121 shares of the network equipment provider’s stock after acquiring an additional 25,936 shares during the quarter. Cisco Systems comprises about 1.4% of Carret Asset Management LLC’s investment portfolio, making the stock its 15th biggest holding. Carret Asset Management LLC’s holdings in Cisco Systems were worth $8,455,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CSCO. Richard Bernstein Advisors LLC grew its stake in shares of Cisco Systems by 21.2% in the second quarter. Richard Bernstein Advisors LLC now owns 269,441 shares of the network equipment provider’s stock worth $8,434,000 after acquiring an additional 47,211 shares during the period. Stratos Wealth Partners LTD. grew its stake in shares of Cisco Systems by 10.4% in the second quarter. Stratos Wealth Partners LTD. now owns 152,990 shares of the network equipment provider’s stock worth $4,789,000 after acquiring an additional 14,395 shares during the period. Eads & Heald Investment Counsel grew its stake in shares of Cisco Systems by 15.7% in the second quarter. Eads & Heald Investment Counsel now owns 42,453 shares of the network equipment provider’s stock worth $1,329,000 after acquiring an additional 5,765 shares during the period. Washington Trust Bank grew its stake in shares of Cisco Systems by 2.5% in the second quarter. Washington Trust Bank now owns 113,153 shares of the network equipment provider’s stock worth $3,542,000 after acquiring an additional 2,726 shares during the period. Finally, Holderness Investments Co. grew its stake in shares of Cisco Systems by 12.1% in the first quarter. Holderness Investments Co. now owns 66,740 shares of the network equipment provider’s stock worth $2,256,000 after acquiring an additional 7,186 shares during the period. Institutional investors and hedge funds own 75.78% of the company’s stock.

A number of analysts have recently commented on CSCO shares. Vetr lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 price target for the company. in a research note on Wednesday, August 30th. Credit Suisse Group reiterated an “outperform” rating on shares of Cisco Systems in a research note on Thursday, August 31st. Oppenheimer reiterated a “buy” rating and issued a $36.00 price target on shares of Cisco Systems in a research note on Friday, October 20th. Robert W. Baird reiterated a “buy” rating and issued a $38.00 price target on shares of Cisco Systems in a research note on Monday, September 11th. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $42.00 price target on shares of Cisco Systems in a research note on Tuesday, November 14th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $36.90.

Cisco Systems, Inc. (NASDAQ CSCO) opened at $37.96 on Tuesday. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39. Cisco Systems, Inc. has a 1-year low of $29.80 and a 1-year high of $38.04. The stock has a market cap of $185,929.63, a P/E ratio of 17.33, a P/E/G ratio of 3.40 and a beta of 1.19.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The business had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the previous year, the firm earned $0.61 earnings per share. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. analysts expect that Cisco Systems, Inc. will post 2.21 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.06%. Cisco Systems’s dividend payout ratio is currently 60.10%.

In other Cisco Systems news, CEO Charles Robbins sold 121,390 shares of Cisco Systems stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $3,891,763.40. Following the transaction, the chief executive officer now owns 552,694 shares of the company’s stock, valued at $17,719,369.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Prat Bhatt sold 25,638 shares of Cisco Systems stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $821,954.28. Following the transaction, the chief accounting officer now directly owns 119,996 shares in the company, valued at approximately $3,847,071.76. The disclosure for this sale can be found here. Insiders have sold 493,530 shares of company stock worth $16,993,798 in the last ninety days. Insiders own 0.05% of the company’s stock.

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Cisco Systems Profile

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

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

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