Crescent Grove Advisors LLC Trims Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Crescent Grove Advisors LLC lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,789 shares of the network equipment provider’s stock after selling 506 shares during the period. Crescent Grove Advisors LLC’s holdings in Cisco Systems were worth $283,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CSCO. Quarry LP boosted its holdings in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC boosted its holdings in Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares during the last quarter. Highline Wealth Partners LLC boosted its holdings in Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in Cisco Systems in the third quarter valued at about $40,000. Finally, Decker Retirement Planning Inc. purchased a new position in Cisco Systems in the fourth quarter valued at about $49,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $62.23 on Monday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $62.31. The firm has a market capitalization of $247.85 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 4.59 and a beta of 0.84. The business has a 50 day simple moving average of $59.22 and a 200 day simple moving average of $54.09. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same period in the prior year, the company posted $0.98 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s dividend payout ratio is presently 68.67%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CSCO. Bank of America upped their price objective on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Tigress Financial upped their price objective on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Morgan Stanley upped their price objective on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Citigroup upped their price objective on Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Finally, Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.50.

Insider Activity

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 21,230 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the sale, the executive vice president now owns 213,834 shares of the company’s stock, valued at $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the sale, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at $2,979,515.23. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock worth $20,349,721 over the last quarter. Corporate insiders own 0.01% of the company’s stock.

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.