Gilman Hill Asset Management LLC Lowers Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Gilman Hill Asset Management LLC cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,664 shares of the network equipment provider’s stock after selling 1,657 shares during the period. Gilman Hill Asset Management LLC’s holdings in Cisco Systems were worth $5,012,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in CSCO. Quarry LP raised its position in shares of Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares in the last quarter. West Financial Advisors LLC grew its stake in Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares during the last quarter. Highline Wealth Partners LLC raised its holdings in Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Cisco Systems during the third quarter valued at about $40,000. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $49,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $60.23 on Monday. The firm’s fifty day moving average is $58.91 and its two-hundred day moving average is $53.57. The firm has a market cap of $239.88 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 4.37 and a beta of 0.84. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.95. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. During the same period last year, the company earned $0.98 earnings per share. Cisco Systems’s revenue for the quarter was down 5.6% compared to the same quarter last year. Research analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.66%. Cisco Systems’s payout ratio is 68.67%.

Insiders Place Their Bets

In related news, CFO Richard Scott Herren sold 86,351 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $4,964,318.99. Following the completion of the sale, the chief financial officer now owns 365,314 shares of the company’s stock, valued at approximately $21,001,901.86. The trade was a 19.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 353,522 shares of company stock worth $20,349,721. Company insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on CSCO shares. Bank of America increased their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Wells Fargo & Company raised their price objective on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Finally, UBS Group boosted their price target on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.50.

Cisco Systems Profile

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.