Howland Capital Management LLC decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,544 shares of the network equipment provider’s stock after selling 1,490 shares during the period. Howland Capital Management LLC’s holdings in Cisco Systems were worth $559,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of CSCO. Washington Trust Bank raised its stake in Cisco Systems by 3.2% in the first quarter. Washington Trust Bank now owns 110,427 shares of the network equipment provider’s stock valued at $3,732,000 after buying an additional 3,474 shares in the last quarter. Edmp Inc. raised its stake in Cisco Systems by 2.4% in the first quarter. Edmp Inc. now owns 50,421 shares of the network equipment provider’s stock valued at $1,704,000 after buying an additional 1,190 shares in the last quarter. Howe & Rusling Inc. raised its stake in Cisco Systems by 2.9% in the first quarter. Howe & Rusling Inc. now owns 209,640 shares of the network equipment provider’s stock valued at $7,086,000 after buying an additional 5,831 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Cisco Systems during the first quarter valued at about $3,590,000. Finally, Marquette Asset Management Inc. acquired a new stake in Cisco Systems during the first quarter valued at about $324,000. 75.24% of the stock is owned by institutional investors.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) opened at 31.76 on Tuesday. The company has a 50 day moving average price of $32.94 and a 200 day moving average price of $32.11. Cisco Systems, Inc. has a 1-year low of $27.13 and a 1-year high of $34.60. The stock has a market cap of $158.80 billion, a P/E ratio of 16.12 and a beta of 1.36.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Cisco Systems had a net margin of 21.73% and a return on equity of 17.50%. The business had revenue of $11.94 billion for the quarter, compared to analyst estimates of $11.90 billion. During the same period in the previous year, the company earned $0.57 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities analysts anticipate that Cisco Systems, Inc. will post $2.38 EPS for the current year.
Several brokerages have issued reports on CSCO. BMO Capital Markets lowered Cisco Systems from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $37.00 to $35.00 in a research note on Tuesday, May 9th. Vetr raised Cisco Systems from a “sell” rating to a “hold” rating and set a $34.51 price target for the company in a research note on Monday, March 20th. Drexel Hamilton reaffirmed a “buy” rating and set a $40.00 price target on shares of Cisco Systems in a research note on Tuesday, May 16th. Deutsche Bank AG lifted their price target on Cisco Systems from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, March 23rd. Finally, Sanford C. Bernstein set a $37.00 price target on Cisco Systems and gave the stock a “buy” rating in a research note on Thursday, February 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $35.19.
In other Cisco Systems news, SVP Mark D. Chandler sold 16,000 shares of Cisco Systems stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $34.04, for a total value of $544,640.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John T. Chambers sold 295,537 shares of Cisco Systems stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total transaction of $9,315,326.24. The disclosure for this sale can be found here. Insiders sold 327,209 shares of company stock worth $10,397,046 over the last ninety days. Corporate insiders own 0.11% of the company’s stock. Cisco Systems Company Profile
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