Brown Advisory Inc. Has $64.95 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Brown Advisory Inc. lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,052,444 shares of the network equipment provider's stock after selling 35,377 shares during the quarter. Brown Advisory Inc.'s holdings in Cisco Systems were worth $64,946,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Cisco Systems during the fourth quarter valued at approximately $3,297,905,000. FMR LLC lifted its holdings in shares of Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after purchasing an additional 13,285,052 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Cisco Systems in the 4th quarter worth approximately $413,491,000. GAMMA Investing LLC lifted its holdings in shares of Cisco Systems by 7,096.5% in the 1st quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock worth $414,593,000 after purchasing an additional 6,625,045 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Cisco Systems by 187.9% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider's stock valued at $442,749,000 after acquiring an additional 4,880,747 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Price Performance

Shares of CSCO stock traded down $0.42 during trading hours on Thursday, hitting $68.86. The company had a trading volume of 4,182,565 shares, compared to its average volume of 20,335,388. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.78. The firm has a market capitalization of $272.67 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 4.10 and a beta of 0.90. The firm's fifty day moving average is $64.63 and its 200 day moving average is $61.68. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same period in the prior year, the company earned $0.88 EPS. Cisco Systems's revenue for the quarter was up 11.4% on a year-over-year basis. On average, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is currently 66.94%.

Analyst Upgrades and Downgrades

CSCO has been the topic of several analyst reports. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Piper Sandler boosted their price objective on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Citigroup boosted their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $65.00 to $73.00 in a research note on Monday, June 16th. Finally, Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $69.53.

Insider Buying and Selling

In other news, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.97, for a total value of $637,205.17. Following the transaction, the insider owned 257,162 shares of the company's stock, valued at $16,450,653.14. This represents a 3.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Oliver Tuszik sold 15,000 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total value of $952,950.00. Following the transaction, the executive vice president owned 131,676 shares of the company's stock, valued at approximately $8,365,376.28. This trade represents a 10.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock worth $6,271,054 over the last 90 days. 0.01% of the stock is currently owned by corporate insiders.

About Cisco Systems

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.