Howland Capital Management LLC Has $774,000 Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Howland Capital Management LLC trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.0% during the first quarter, Holdings Channel reports. The firm owned 15,515 shares of the network equipment provider’s stock after selling 1,346 shares during the quarter. Howland Capital Management LLC’s holdings in Cisco Systems were worth $774,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Tompkins Financial Corp lifted its holdings in shares of Cisco Systems by 9.5% in the 3rd quarter. Tompkins Financial Corp now owns 199,757 shares of the network equipment provider’s stock worth $10,739,000 after purchasing an additional 17,333 shares in the last quarter. Comerica Bank grew its holdings in shares of Cisco Systems by 118.1% during the third quarter. Comerica Bank now owns 1,851,518 shares of the network equipment provider’s stock valued at $99,538,000 after buying an additional 1,002,401 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC bought a new stake in shares of Cisco Systems during the third quarter worth about $10,299,000. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new position in Cisco Systems in the 3rd quarter valued at about $4,298,000. Finally, Verity Asset Management Inc. bought a new stake in Cisco Systems during the 3rd quarter worth approximately $215,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO traded up $0.49 during midday trading on Thursday, hitting $46.76. The company’s stock had a trading volume of 19,741,432 shares, compared to its average volume of 19,592,980. The firm has a market capitalization of $188.39 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 2.67 and a beta of 0.85. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The stock has a fifty day moving average price of $46.89 and a 200 day moving average price of $48.61. Cisco Systems, Inc. has a one year low of $44.95 and a one year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data 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. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period in the previous year, the company posted $0.88 EPS. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. On average, research analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.42%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio is presently 53.87%.

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of Cisco Systems stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the sale, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total value of $118,745.46. Following the transaction, the executive vice president now owns 176,384 shares in the company, valued at $7,997,250.56. The disclosure for this sale can be found here. Insiders sold 41,106 shares of company stock worth $1,908,923 in the last three months. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Piper Sandler reiterated a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a report on Wednesday, June 5th. Morgan Stanley began coverage on shares of Cisco Systems in a report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price for the company. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. initiated coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $56.47.

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.