Carret Asset Management LLC Has $10.10 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Carret Asset Management LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% in the fourth quarter, Holdings Channel reports. The fund owned 199,926 shares of the network equipment provider’s stock after selling 1,512 shares during the period. Cisco Systems accounts for 1.3% of Carret Asset Management LLC’s investment portfolio, making the stock its 13th biggest holding. Carret Asset Management LLC’s holdings in Cisco Systems were worth $10,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kathleen S. Wright Associates Inc. bought a new stake in Cisco Systems in the third quarter valued at about $27,000. Valued Wealth Advisors LLC bought a new stake in Cisco Systems during the fourth quarter worth about $32,000. Morton Brown Family Wealth LLC grew its stake in Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after buying an additional 208 shares during the last quarter. Bourgeon Capital Management LLC grew its stake in Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after buying an additional 700 shares during the last quarter. Finally, Rakuten Securities Inc. bought a new stake in Cisco Systems during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $55.00 to $60.00 in a research note on Monday, April 15th. UBS Group increased their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. Finally, Piper Sandler increased their price target on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $55.53.

Insider Transactions at Cisco Systems

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

Cisco Systems Trading Up 0.1 %

CSCO traded up $0.03 during mid-day trading on Wednesday, hitting $48.35. The stock had a trading volume of 14,813,125 shares, compared to its average volume of 19,419,535. The stock’s fifty day simple moving average is $49.01 and its 200-day simple moving average is $50.13. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The firm has a market capitalization of $195.78 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 2.78 and a beta of 0.87. Cisco Systems, Inc. has a 1-year low of $45.56 and a 1-year high of $58.19.

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

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be given a dividend of $0.40 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.31%. Cisco Systems’s dividend payout ratio is currently 48.63%.

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.