Woodmont Investment Counsel LLC Has $1.94 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Woodmont Investment Counsel LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,884 shares of the network equipment provider’s stock after selling 735 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Cisco Systems were worth $1,941,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Synergy Asset Management LLC purchased a new stake in shares of Cisco Systems during the 1st quarter worth about $2,773,000. Narus Financial Partners LLC raised its stake in shares of Cisco Systems by 4.4% during the 1st quarter. Narus Financial Partners LLC now owns 5,791 shares of the network equipment provider’s stock worth $289,000 after purchasing an additional 245 shares in the last quarter. Cullinan Associates Inc. raised its stake in shares of Cisco Systems by 18.3% during the 1st quarter. Cullinan Associates Inc. now owns 360,001 shares of the network equipment provider’s stock worth $17,968,000 after purchasing an additional 55,665 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Cisco Systems by 16.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,288,768 shares of the network equipment provider’s stock worth $64,322,000 after purchasing an additional 177,588 shares in the last quarter. Finally, Eagle Capital Management LLC bought a new position in shares of Cisco Systems in the 1st quarter valued at approximately $231,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Down 0.6 %

Shares of NASDAQ CSCO traded down $0.30 during mid-day trading on Tuesday, reaching $47.22. 7,340,686 shares of the company’s stock were exchanged, compared to its average volume of 19,649,754. 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 firm has a market capitalization of $190.24 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 2.75 and a beta of 0.85. Cisco Systems, Inc. has a twelve month low of $44.95 and a twelve month high of $58.19. The business has a fifty day simple moving average of $47.06 and a 200 day simple moving average of $48.78.

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. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business’s revenue was down 12.8% on a year-over-year basis. During the same period last year, the firm posted $0.88 earnings per share. As a group, equities analysts expect that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 annualized dividend and a yield of 3.39%. Cisco Systems’s dividend payout ratio is presently 53.87%.

Wall Street Analysts Forecast Growth

CSCO has been the subject of several analyst reports. Barclays boosted their target price on Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, May 17th. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $55.00 to $60.00 in a report on Monday, April 15th. Citigroup initiated coverage on Cisco Systems in a report on Friday, April 12th. They set a “neutral” rating and a $52.00 price target for the company. BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective on the stock in a research report on Monday, May 13th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Monday, June 10th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $56.47.

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, 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 transaction of $386,691.84. Following the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the transaction, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,106 shares of company stock worth $1,908,923. Insiders own 0.02% of the company’s stock.

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.