CrestPoint Capital Management LLC cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 32.4% in the 4th quarter, HoldingsChannel reports. The fund owned 39,200 shares of the network equipment provider’s stock after selling 18,800 shares during the period. CrestPoint Capital Management LLC’s holdings in Cisco Systems were worth $1,501,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CSCO. Beach Investment Management LLC. bought a new stake in Cisco Systems in the 2nd quarter valued at about $1,030,000. Community Bank N.A. increased its position in Cisco Systems by 2.6% in the 2nd quarter. Community Bank N.A. now owns 163,114 shares of the network equipment provider’s stock valued at $5,103,000 after buying an additional 4,109 shares in the last quarter. Comerica Bank increased its position in Cisco Systems by 5.4% in the 2nd quarter. Comerica Bank now owns 2,476,698 shares of the network equipment provider’s stock valued at $78,907,000 after buying an additional 127,035 shares in the last quarter. Allegis Investment Advisors LLC bought a new stake in Cisco Systems in the 2nd quarter valued at about $309,000. Finally, Camden National Bank increased its position in Cisco Systems by 16.5% in the 2nd quarter. Camden National Bank now owns 6,986 shares of the network equipment provider’s stock valued at $219,000 after buying an additional 991 shares in the last quarter. 77.65% of the stock is owned by hedge funds and other institutional investors.

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In related news, SVP Rebecca Jacoby sold 75,021 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total value of $2,882,306.82. Following the transaction, the senior vice president now owns 257,476 shares in the company, valued at $9,892,227.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Roderick C. Mcgeary sold 15,230 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $38.00, for a total value of $578,740.00. Following the completion of the transaction, the director now owns 113,154 shares in the company, valued at approximately $4,299,852. The disclosure for this sale can be found here. In the last quarter, insiders sold 116,566 shares of company stock worth $4,636,938. 0.05% of the stock is owned by company insiders.

Cisco Systems, Inc. (NASDAQ CSCO) opened at $45.16 on Wednesday. Cisco Systems, Inc. has a 12 month low of $30.36 and a 12 month high of $46.16. The company has a quick ratio of 2.38, a current ratio of 2.43 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $219,437.94, a P/E ratio of 20.52, a P/E/G ratio of 3.06 and a beta of 1.10.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. Cisco Systems had a positive return on equity of 17.77% and a negative net margin of 3.00%. The business had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.82 billion. During the same quarter in the prior year, the business earned $0.57 earnings per share. equities analysts expect that Cisco Systems, Inc. will post 2.32 EPS for the current year.

Cisco Systems declared that its board has approved a stock repurchase plan on Wednesday, February 14th that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, April 5th will be paid a $0.33 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, April 4th. This represents a $1.32 annualized dividend and a yield of 2.92%. Cisco Systems’s dividend payout ratio is presently -362.50%.

CSCO has been the subject of a number of research analyst reports. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Cisco Systems in a research report on Tuesday, November 14th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $36.00 target price on shares of Cisco Systems in a research report on Wednesday, November 15th. Barclays boosted their target price on Cisco Systems from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, November 16th. Citigroup reaffirmed a “buy” rating and issued a $40.00 target price on shares of Cisco Systems in a research report on Thursday, November 16th. They noted that the move was a valuation call. Finally, Jefferies Group boosted their target price on Cisco Systems to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 16th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $44.04.

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Cisco Systems Company Profile

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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