Chesley Taft & Associates LLC Sells 1,829 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Chesley Taft & Associates LLC decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 19,103 shares of the network equipment provider’s stock after selling 1,829 shares during the period. Chesley Taft & Associates LLC’s holdings in Cisco Systems were worth $953,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Cisco Systems in the fourth quarter worth $2,528,939,000. Charles Schwab Investment Management Inc. lifted its stake in Cisco Systems by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after acquiring an additional 6,345,954 shares during the period. FIL Ltd lifted its stake in Cisco Systems by 47.1% in the fourth quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after acquiring an additional 6,054,748 shares during the period. Dimensional Fund Advisors LP lifted its stake in Cisco Systems by 29.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,727,214 shares of the network equipment provider’s stock worth $895,576,000 after acquiring an additional 3,989,543 shares during the period. Finally, California Public Employees Retirement System lifted its stake in Cisco Systems by 25.0% in the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock worth $947,262,000 after acquiring an additional 3,753,165 shares during the period. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the sale, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the transaction, the senior vice president now directly owns 51,788 shares in the company, valued at approximately $2,352,210.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the transaction, the executive vice president now owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,106 shares of company stock valued at $1,908,923. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Trading Up 0.1 %

Cisco Systems stock opened at $47.50 on Friday. The business has a 50-day simple moving average of $47.09 and a two-hundred day simple moving average of $48.82. The company has a market cap of $191.37 billion, a P/E ratio of 15.98, a P/E/G ratio of 2.71 and a beta of 0.85. Cisco Systems, Inc. has a 52-week low of $44.95 and a 52-week high of $58.19. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 EPS. Analysts predict that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio is 53.87%.

Analyst Ratings Changes

Several equities analysts have commented on CSCO shares. Wells Fargo & Company raised their price objective on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, May 16th. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. BNP Paribas raised Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a research report on Monday, May 13th. Barclays raised their price objective on Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, May 17th. Finally, Morgan Stanley started coverage on Cisco Systems in a research report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price objective for the company. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $56.47.

About Cisco Systems

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.