Chapin Davis Inc. Reduces Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Chapin Davis Inc. lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,973 shares of the network equipment provider’s stock after selling 247 shares during the quarter. Chapin Davis Inc.’s holdings in Cisco Systems were worth $1,496,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CSCO. Valued Wealth Advisors LLC acquired a new position in Cisco Systems in the 4th quarter valued at $32,000. Delos Wealth Advisors LLC increased its stake in shares of Cisco Systems by 1,666.7% during the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after acquiring an additional 600 shares during the period. DiNuzzo Private Wealth Inc. purchased a new position in Cisco Systems during the fourth quarter worth about $33,000. Morton Brown Family Wealth LLC lifted its position in Cisco Systems by 41.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 208 shares during the period. Finally, Bourgeon Capital Management LLC boosted its holdings in Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 700 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

CSCO opened at $47.54 on Monday. Cisco Systems, Inc. has a 52-week low of $44.95 and a 52-week high of $58.19. The company has a 50 day moving average of $47.06 and a two-hundred day moving average of $48.78. The company has a market cap of $191.53 billion, a P/E ratio of 16.00, a P/E/G ratio of 2.75 and a beta of 0.85. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The firm had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same period in the prior year, the company earned $0.88 EPS. The firm’s revenue was down 12.8% on a year-over-year basis. On average, analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 annualized dividend and a dividend yield of 3.37%. Cisco Systems’s payout ratio is currently 53.87%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CSCO. JPMorgan Chase & Co. assumed coverage on Cisco Systems in a research report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price objective for the company. Barclays upped their price target on shares of Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, May 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 9th. BNP Paribas raised Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research report on Monday, May 13th. Finally, Wells Fargo & Company upped their price objective on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $56.47.

Insiders Place Their Bets

In related news, EVP Deborah L. Stahlkopf sold 2,619 shares of the firm’s 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 document filed with the SEC, which is available through the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’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 directly owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 3,378 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the sale, the senior vice president now directly owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The disclosure for this sale can be found here. Insiders sold a total of 41,106 shares of company stock worth $1,908,923 in the last 90 days. 0.02% of the stock is owned by company 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 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.