Silvercrest Asset Management Group LLC Sells 48,028 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Silvercrest Asset Management Group LLC decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,116,197 shares of the network equipment provider’s stock after selling 48,028 shares during the period. Cisco Systems makes up 0.8% of Silvercrest Asset Management Group LLC’s portfolio, making the stock its 14th largest holding. Silvercrest Asset Management Group LLC owned approximately 0.05% of Cisco Systems worth $125,279,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mainstream Capital Management LLC acquired a new stake in shares of Cisco Systems during the 4th quarter valued at about $132,000. Proficio Capital Partners LLC lifted its position in shares of Cisco Systems by 76.4% during the 4th 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. CENTRAL TRUST Co boosted its stake in Cisco Systems by 4.8% in the 4th quarter. CENTRAL TRUST Co now owns 112,101 shares of the network equipment provider’s stock valued at $6,636,000 after buying an additional 5,123 shares in the last quarter. Requisite Capital Management LLC acquired a new position in Cisco Systems during the fourth quarter worth $1,670,000. Finally, Stonegate Investment Group LLC raised its stake in Cisco Systems by 0.8% during the fourth quarter. Stonegate Investment Group LLC now owns 1,539,557 shares of the network equipment provider’s stock worth $91,142,000 after acquiring an additional 11,506 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CSCO shares. Piper Sandler increased their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday. BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Tuesday, January 28th. UBS Group raised their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Evercore ISI cut their price target on shares of Cisco Systems from $75.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. Finally, DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $66.53.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $64.26 on Friday. 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 company has a market capitalization of $255.65 billion, a P/E ratio of 28.06, a P/E/G ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The stock has a 50 day moving average of $58.69 and a 200-day moving average of $59.60.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.05. The firm had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. During the same period in the previous year, the business posted $0.88 earnings per share. As a group, equities research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is presently 71.62%.

Cisco Systems declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now directly owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. This trade represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 11,808 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $64.37, for a total transaction of $760,080.96. Following the transaction, the executive vice president now owns 200,191 shares in the company, valued at approximately $12,886,294.67. The trade was a 5.57% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,635 shares of company stock worth $931,901. Company insiders own 0.01% of the company’s stock.

Cisco Systems 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.