Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,116,197 shares of the network equipment provider's stock after selling 48,028 shares during the period. Cisco Systems makes up approximately 0.8% of Silvercrest Asset Management Group LLC's investment portfolio, making the stock its 14th largest position. Silvercrest Asset Management Group LLC owned 0.05% of Cisco Systems worth $125,279,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CSCO. Norges Bank purchased a new position in shares of Cisco Systems during the 4th quarter worth approximately $3,297,905,000. FMR LLC boosted its position in Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock valued at $4,571,218,000 after buying an additional 13,285,052 shares during the period. Raymond James Financial Inc. purchased a new position in Cisco Systems in the 4th quarter valued at approximately $560,722,000. Alyeska Investment Group L.P. purchased a new position in Cisco Systems in the 4th quarter valued at approximately $413,491,000. Finally, Caisse DE Depot ET Placement DU Quebec boosted 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 buying an additional 4,880,747 shares during the period. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded up $0.30 on Monday, reaching $63.92. 16,237,572 shares of the stock were exchanged, compared to its average volume of 20,397,108. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average price of $58.75 and a two-hundred day moving average price of $59.72. The firm has a market capitalization of $254.29 billion, a PE ratio of 27.91, a PEG ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. 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 previous year, the business posted $0.88 earnings per share. The business's revenue was up 11.4% compared to the same quarter last year. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its board has initiated a share buyback program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares of the company's stock, valued at $2,693,013.45. This represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 11,808 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $64.37, for a total transaction of $760,080.96. Following the sale, the executive vice president now directly owns 200,191 shares of the company's stock, valued at approximately $12,886,294.67. The trade was a 5.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,635 shares of company stock valued at $931,901 over the last quarter. Corporate insiders own 0.01% of the company's stock.

Analyst Upgrades and Downgrades

CSCO has been the subject of several recent research reports. UBS Group raised their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Barclays increased their target price on Cisco Systems from $61.00 to $66.00 and gave the company an "equal weight" rating in a report on Thursday. Evercore ISI increased their target price on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday. Citigroup increased their target price on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday. Finally, DZ Bank raised Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $68.00.

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.