Baldwin Investment Management LLC Sells 4,211 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Baldwin Investment Management LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 36.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,272 shares of the network equipment provider’s stock after selling 4,211 shares during the quarter. Baldwin Investment Management LLC’s holdings in Cisco Systems were worth $387,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First City Capital Management Inc. boosted its position in Cisco Systems by 2.6% during the 1st quarter. First City Capital Management Inc. now owns 20,232 shares of the network equipment provider’s stock valued at $1,010,000 after acquiring an additional 515 shares in the last quarter. Cetera Investment Advisers grew its stake in Cisco Systems by 217.4% in the first quarter. Cetera Investment Advisers now owns 1,107,552 shares of the network equipment provider’s stock worth $55,278,000 after purchasing an additional 758,624 shares during the period. Cetera Advisors LLC grew its stake in Cisco Systems by 90.1% in the first quarter. Cetera Advisors LLC now owns 268,251 shares of the network equipment provider’s stock worth $13,388,000 after purchasing an additional 127,174 shares during the period. Clean Yield Group raised its holdings in Cisco Systems by 25.0% in the first quarter. Clean Yield Group now owns 86,246 shares of the network equipment provider’s stock worth $4,305,000 after purchasing an additional 17,247 shares in the last quarter. Finally, Birmingham Capital Management Co. Inc. AL boosted its holdings in shares of Cisco Systems by 1.7% during the 1st quarter. Birmingham Capital Management Co. Inc. AL now owns 18,106 shares of the network equipment provider’s stock valued at $904,000 after buying an additional 296 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

Shares of CSCO opened at $59.29 on Thursday. The firm has a fifty day simple moving average of $55.53 and a two-hundred day simple moving average of $50.39. The firm has a market cap of $236.14 billion, a PE ratio of 25.45, a P/E/G ratio of 4.38 and a beta of 0.83. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $59.87.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Cisco Systems’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 earnings per share. On average, equities analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CSCO. Tigress Financial increased their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Barclays lifted their price objective on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, Evercore ISI increased their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and an average price target of $59.94.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The trade was a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 339,479 shares of company stock valued at $19,490,991. Insiders own 0.01% 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.