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

Brown Advisory Inc. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,052,444 shares of the network equipment provider's stock after selling 35,377 shares during the period. Brown Advisory Inc.'s holdings in Cisco Systems were worth $64,946,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CSCO. Golden State Wealth Management LLC increased its stake in Cisco Systems by 10.8% in the 1st quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider's stock worth $389,000 after purchasing an additional 612 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Cisco Systems by 76.4% in the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock worth $1,003,000 after buying an additional 7,338 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Cisco Systems by 28.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider's stock worth $249,180,000 after acquiring an additional 904,548 shares in the last quarter. Investment Management Corp of Ontario raised its holdings in shares of Cisco Systems by 44.6% during the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock valued at $11,454,000 after acquiring an additional 59,680 shares during the period. Finally, AlTi Global Inc. lifted its position in shares of Cisco Systems by 49.8% in the 4th quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider's stock valued at $1,217,000 after acquiring an additional 6,811 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Activity

In other Cisco Systems news, insider Jeetendra I. Patel sold 899 shares of Cisco Systems stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total value of $57,778.73. Following the transaction, the insider directly owned 255,377 shares of the company's stock, valued at $16,413,079.79. The trade was a 0.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the sale, the chief financial officer owned 309,543 shares in the company, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock worth $6,271,054 over the last 90 days. Company insiders own 0.01% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. JPMorgan Chase & Co. lifted their price target on Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. KeyCorp assumed coverage on Cisco Systems in a research note on Thursday, June 26th. They issued an "overweight" rating and a $77.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a "hold" rating to a "buy" rating and lifted their target price for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Finally, Barclays reissued an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $69.53.

Cisco Systems Stock Performance

Shares of CSCO stock traded down $0.51 during trading on Thursday, reaching $68.76. The company had a trading volume of 14,970,647 shares, compared to its average volume of 20,383,426. The firm's 50 day simple moving average is $64.63 and its two-hundred day simple moving average is $61.68. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The company has a market capitalization of $272.29 billion, a PE ratio of 28.07, a PEG ratio of 4.14 and a beta of 0.90.

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, beating analysts' consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 earnings per share. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.39%. Cisco Systems's dividend payout ratio is presently 66.94%.

Cisco Systems Company 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.