Calton & Associates Inc. Decreases Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Calton & Associates Inc. reduced its position in Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 6.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,916 shares of the network equipment provider’s stock after selling 665 shares during the period. Calton & Associates Inc.’s holdings in Cisco Systems were worth $497,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CSCO. Woodmont Investment Counsel LLC boosted its holdings in Cisco Systems by 0.4% in the 4th quarter. Woodmont Investment Counsel LLC now owns 41,425 shares of the network equipment provider’s stock worth $2,625,000 after buying an additional 180 shares during the period. Autus Asset Management LLC boosted its holdings in Cisco Systems by 2.7% in the 4th quarter. Autus Asset Management LLC now owns 6,898 shares of the network equipment provider’s stock worth $437,000 after buying an additional 181 shares during the period. Pinnacle Bancorp Inc. boosted its holdings in Cisco Systems by 1.0% in the 4th quarter. Pinnacle Bancorp Inc. now owns 19,212 shares of the network equipment provider’s stock worth $1,217,000 after buying an additional 183 shares during the period. Sara Bay Financial boosted its holdings in Cisco Systems by 1.1% in the 4th quarter. Sara Bay Financial now owns 17,723 shares of the network equipment provider’s stock worth $1,123,000 after buying an additional 186 shares during the period. Finally, Ballast Inc. boosted its holdings in Cisco Systems by 0.7% in the 4th quarter. Ballast Inc. now owns 27,471 shares of the network equipment provider’s stock worth $1,740,000 after buying an additional 188 shares during the period. Institutional investors own 73.18% of the company’s stock.

Several brokerages recently weighed in on CSCO. The Goldman Sachs Group dropped their target price on shares of Cisco Systems from $64.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, May 20th. Jefferies Financial Group cut their price objective on Cisco Systems from $65.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, May 19th. TheStreet lowered Cisco Systems from a “b” rating to a “c+” rating in a research report on Wednesday, June 15th. Morgan Stanley cut their price objective on Cisco Systems from $59.00 to $46.00 and set an “equal weight” rating for the company in a research report on Thursday, May 19th. Finally, Piper Sandler cut their price objective on Cisco Systems from $57.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, May 19th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and a consensus price target of $55.05.

Shares of NASDAQ CSCO opened at $43.57 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.49 and a quick ratio of 1.40. The company has a market cap of $180.42 billion, a P/E ratio of 15.29, a PEG ratio of 2.27 and a beta of 0.99. Cisco Systems, Inc. has a 1 year low of $41.02 and a 1 year high of $64.29. The firm has a 50-day simple moving average of $47.24 and a two-hundred day simple moving average of $53.77.

Cisco Systems (NASDAQ:CSCOGet Rating) last announced its quarterly earnings data on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.01. Cisco Systems had a net margin of 23.28% and a return on equity of 31.22%. During the same period in the prior year, the company earned $0.75 earnings per share. As a group, equities research analysts expect that Cisco Systems, Inc. will post 2.99 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 6th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Tuesday, July 5th. Cisco Systems’s payout ratio is currently 53.33%.

In other news, SVP Prat Bhatt sold 607 shares of Cisco Systems stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $43.10, for a total transaction of $26,161.70. Following the completion of the sale, the senior vice president now owns 79,855 shares of the company’s stock, valued at $3,441,750.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Maria Martinez sold 3,628 shares of Cisco Systems stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $43.34, for a total transaction of $157,237.52. Following the sale, the chief operating officer now directly owns 295,305 shares of the company’s stock, valued at approximately $12,798,518.70. The disclosure for this sale can be found here. In the last three months, insiders sold 25,326 shares of company stock valued at $1,103,159. 0.02% of the stock is owned by insiders.

Cisco Systems Company Profile (Get Rating)

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.

Further Reading

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

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