Cisco Systems, Inc. (CSCO) Shares Sold by Rossmore Private Capital

Rossmore Private Capital lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 42.7% in the 1st quarter, HoldingsChannel reports. The fund owned 17,628 shares of the network equipment provider’s stock after selling 13,117 shares during the quarter. Rossmore Private Capital’s holdings in Cisco Systems were worth $756,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Union Bankshares Corp increased its stake in Cisco Systems by 21.9% during the 4th quarter. Union Bankshares Corp now owns 167,758 shares of the network equipment provider’s stock valued at $6,425,000 after purchasing an additional 30,113 shares in the last quarter. Patriot Wealth Management Inc. increased its stake in Cisco Systems by 1.2% during the 4th quarter. Patriot Wealth Management Inc. now owns 308,456 shares of the network equipment provider’s stock valued at $11,814,000 after purchasing an additional 3,628 shares in the last quarter. Bogart Wealth LLC increased its stake in Cisco Systems by 11.4% during the 4th quarter. Bogart Wealth LLC now owns 51,254 shares of the network equipment provider’s stock valued at $1,963,000 after purchasing an additional 5,260 shares in the last quarter. Rockland Trust Co. increased its stake in Cisco Systems by 33.3% during the 4th quarter. Rockland Trust Co. now owns 14,652 shares of the network equipment provider’s stock valued at $561,000 after purchasing an additional 3,661 shares in the last quarter. Finally, Sawyer & Company Inc bought a new stake in Cisco Systems during the 4th quarter valued at $1,219,000. Institutional investors own 73.80% of the company’s stock.

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CSCO has been the subject of a number of recent research reports. Vetr lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $46.32 price target for the company. in a research note on Wednesday, April 18th. Credit Suisse Group set a $41.00 price target on shares of Cisco Systems and gave the company a “hold” rating in a research note on Thursday, May 17th. JPMorgan Chase & Co. set a $58.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a research note on Thursday, May 17th. Citigroup boosted their price target on shares of Cisco Systems from $46.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, March 16th. Finally, Goldman Sachs Group upgraded shares of Cisco Systems from a “buy” rating to a “conviction-buy” rating in a research note on Friday, March 23rd. Ten analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $46.56.

In other Cisco Systems news, EVP David Goeckeler sold 35,000 shares of the company’s stock in a transaction dated Friday, June 22nd. The shares were sold at an average price of $43.27, for a total transaction of $1,514,450.00. Following the sale, the executive vice president now directly owns 490,458 shares of the company’s stock, valued at $21,222,117.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.05% of the stock is owned by corporate insiders.

Shares of Cisco Systems opened at $42.56 on Friday, Marketbeat.com reports. The company has a current ratio of 2.34, a quick ratio of 2.28 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $205.56 billion, a P/E ratio of 18.72, a P/E/G ratio of 2.88 and a beta of 1.10. Cisco Systems, Inc. has a fifty-two week low of $30.36 and a fifty-two week high of $46.37.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 16th. The network equipment provider reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. The company had revenue of $12.46 billion for the quarter, compared to the consensus estimate of $12.42 billion. Cisco Systems had a negative net margin of 2.61% and a positive return on equity of 19.48%. During the same period in the previous year, the firm earned $0.60 EPS. analysts expect that Cisco Systems, Inc. will post 2.34 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 25th. Shareholders of record on Friday, July 6th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Thursday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 61.40%.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.

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