Baystate Wealth Management LLC Lowers Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Baystate Wealth Management LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 12,259 shares of the network equipment provider’s stock after selling 1,710 shares during the period. Baystate Wealth Management LLC’s holdings in Cisco Systems were worth $483,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CSCO. Nordea Investment Management AB grew its position in shares of Cisco Systems by 103.2% in the 2nd quarter. Nordea Investment Management AB now owns 48,175,664 shares of the network equipment provider’s stock worth $2,249,322,000 after buying an additional 24,469,149 shares during the period. Public Investment Fund bought a new stake in Cisco Systems during the first quarter worth about $490,881,000. Advisor Group Holdings Inc. bought a new stake in Cisco Systems during the first quarter worth about $64,944,000. First Trust Advisors LP grew its holdings in Cisco Systems by 33.4% in the second quarter. First Trust Advisors LP now owns 22,129,042 shares of the network equipment provider’s stock worth $1,032,099,000 after purchasing an additional 5,546,028 shares during the period. Finally, Capital International Investors increased its stake in shares of Cisco Systems by 199.6% during the first quarter. Capital International Investors now owns 6,604,661 shares of the network equipment provider’s stock valued at $259,629,000 after purchasing an additional 4,400,427 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Shares of CSCO stock opened at $40.16 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.67 and a debt-to-equity ratio of 0.31. Cisco Systems, Inc. has a 12 month low of $32.40 and a 12 month high of $50.28. The stock has a market cap of $170.01 billion, a P/E ratio of 15.27, a P/E/G ratio of 2.16 and a beta of 0.87. The company has a 50 day simple moving average of $39.95 and a two-hundred day simple moving average of $43.30.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 12th. The network equipment provider reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.06. The company had revenue of $12.15 billion for the quarter, compared to the consensus estimate of $12.09 billion. Cisco Systems had a return on equity of 34.75% and a net margin of 22.75%. During the same period in the previous year, the business earned $0.83 earnings per share. As a group, equities analysts forecast that Cisco Systems, Inc. will post 2.8 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Friday, October 2nd will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.59%. Cisco Systems’s dividend payout ratio (DPR) is presently 49.32%.

Several analysts recently weighed in on CSCO shares. Credit Suisse Group upped their price target on Cisco Systems from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Barclays cut Cisco Systems to a “hold” rating in a research note on Thursday, July 9th. Goldman Sachs Group restated a “neutral” rating and set a $45.00 price target on shares of Cisco Systems in a report on Thursday, August 13th. Royal Bank of Canada reiterated a “buy” rating and issued a $48.00 price target on shares of Cisco Systems in a research note on Thursday, August 13th. Finally, Bank of America cut their price objective on shares of Cisco Systems from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, September 16th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and ten have assigned a buy rating to the company. Cisco Systems currently has a consensus rating of “Hold” and an average target price of $47.45.

In other news, CFO Kelly A. Kramer sold 45,000 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $42.01, for a total value of $1,890,450.00. Also, EVP Irving Tan sold 4,141 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $42.08, for a total transaction of $174,253.28. Following the completion of the sale, the executive vice president now directly owns 125,860 shares of the company’s stock, valued at $5,296,188.80. The disclosure for this sale can be found here. Insiders sold a total of 60,166 shares of company stock valued at $2,528,248 over the last three months. 0.03% of the stock is currently owned by insiders.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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

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