Stonebridge Capital Management Inc. decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 155,187 shares of the network equipment provider’s stock after selling 2,000 shares during the quarter. Cisco Systems makes up 3.1% of Stonebridge Capital Management Inc.’s portfolio, making the stock its 9th biggest position. Stonebridge Capital Management Inc.’s holdings in Cisco Systems were worth $8,024,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 360 Financial Inc. raised its holdings in Cisco Systems by 3.0% in the 4th quarter. 360 Financial Inc. now owns 7,894 shares of the network equipment provider’s stock worth $353,000 after purchasing an additional 228 shares during the period. Garrison Point Advisors LLC raised its holdings in Cisco Systems by 1.3% in the 4th quarter. Garrison Point Advisors LLC now owns 18,190 shares of the network equipment provider’s stock worth $814,000 after purchasing an additional 238 shares during the period. RDA Financial Network raised its holdings in Cisco Systems by 2.8% in the 4th quarter. RDA Financial Network now owns 8,921 shares of the network equipment provider’s stock worth $399,000 after purchasing an additional 241 shares during the period. Arbor Investment Advisors LLC raised its holdings in Cisco Systems by 2.6% in the 4th quarter. Arbor Investment Advisors LLC now owns 9,813 shares of the network equipment provider’s stock worth $439,000 after purchasing an additional 249 shares during the period. Finally, Sage Rhino Capital LLC raised its holdings in shares of Cisco Systems by 1.5% during the fourth quarter. Sage Rhino Capital LLC now owns 17,341 shares of the network equipment provider’s stock valued at $776,000 after acquiring an additional 249 shares during the last quarter. 70.62% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems stock traded down $0.15 during midday trading on Thursday, reaching $51.62. The company’s stock had a trading volume of 259,363 shares, compared to its average volume of 22,293,586. Cisco Systems, Inc. has a fifty-two week low of $35.28 and a fifty-two week high of $52.94. The company has a quick ratio of 1.54, a current ratio of 1.59 and a debt-to-equity ratio of 0.25. The company has a market cap of $217.93 billion, a P/E ratio of 21.00, a P/E/G ratio of 2.54 and a beta of 0.95. The business has a 50-day simple moving average of $48.45 and a 200-day simple moving average of $43.93.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Tuesday, February 9th. The network equipment provider reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.03. Cisco Systems had a return on equity of 32.64% and a net margin of 21.76%. The company had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.92 billion. During the same period last year, the firm earned $0.77 earnings per share. As a group, equities analysts forecast that Cisco Systems, Inc. will post 2.86 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 28th. Shareholders of record on Tuesday, April 6th will be paid a $0.37 dividend. The ex-dividend date is Monday, April 5th. This is a boost from Cisco Systems’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 2.87%. Cisco Systems’s dividend payout ratio (DPR) is currently 50.68%.

In other news, Director M Michele Burns sold 13,982 shares of Cisco Systems stock in a transaction dated Friday, March 26th. The stock was sold at an average price of $51.55, for a total transaction of $720,772.10. Following the sale, the director now owns 70,468 shares in the company, valued at $3,632,625.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Maria Martinez sold 6,000 shares of Cisco Systems stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $46.66, for a total value of $279,960.00. The disclosure for this sale can be found here. Insiders have sold 37,776 shares of company stock worth $1,832,205 in the last quarter. Insiders own 0.02% of the company’s stock.

A number of brokerages have commented on CSCO. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Thursday, February 11th. Oppenheimer reaffirmed a “buy” rating and issued a $50.00 price target on shares of Cisco Systems in a report on Tuesday, February 9th. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and set a $55.00 price target for the company in a report on Thursday, March 11th. Credit Suisse Group increased their price target on Cisco Systems from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Wednesday, February 10th. Finally, Piper Sandler increased their price target on Cisco Systems from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, February 10th. Thirteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Cisco Systems presently has a consensus rating of “Hold” and a consensus target price of $49.48.

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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

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