Curbstone Financial Management Corp Reduces Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Curbstone Financial Management Corp lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 85,174 shares of the network equipment provider’s stock after selling 1,150 shares during the period. Curbstone Financial Management Corp’s holdings in Cisco Systems were worth $4,404,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Costello Asset Management INC acquired a new position in Cisco Systems in the fourth quarter valued at approximately $26,000. Bainco International Investors acquired a new position in Cisco Systems in the fourth quarter valued at approximately $30,000. Navis Wealth Advisors LLC acquired a new position in Cisco Systems in the fourth quarter valued at approximately $30,000. Goodwin Investment Advisory acquired a new position in Cisco Systems in the fourth quarter valued at approximately $31,000. Finally, Defined Wealth Management LLC acquired a new position in Cisco Systems in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 70.62% of the company’s stock.

In other news, CEO Charles Robbins sold 8,497 shares of the stock in a transaction on Wednesday, February 17th. The stock was sold at an average price of $46.20, for a total transaction of $392,561.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director M Michele Burns sold 13,982 shares of the firm’s stock in a transaction dated Friday, March 26th. The shares were sold at an average price of $51.55, for a total value of $720,772.10. Following the transaction, the director now owns 70,468 shares of the company’s stock, valued at $3,632,625.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,776 shares of company stock valued at $1,832,205. Company insiders own 0.02% of the company’s stock.

A number of research analysts have issued reports on the company. Piper Sandler boosted their price target on Cisco Systems from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, February 10th. The Goldman Sachs Group raised Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $50.00 to $59.00 in a research note on Wednesday, March 31st. Oppenheimer reaffirmed a “buy” rating and set a $50.00 target price on shares of Cisco Systems in a research note on Tuesday, February 9th. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Thursday, February 11th. Finally, Credit Suisse Group upped their target price on Cisco Systems from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 10th. Thirteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $49.48.

NASDAQ:CSCO traded down $0.26 during trading hours on Thursday, hitting $51.51. The company had a trading volume of 141,356 shares, compared to its average volume of 22,293,586. The company has a current ratio of 1.59, a quick ratio of 1.54 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average of $48.45 and a 200 day moving average of $43.93. The company has a market cap of $217.46 billion, a P/E ratio of 21.00, a P/E/G ratio of 2.54 and a beta of 0.95. Cisco Systems, Inc. has a 1 year low of $35.28 and a 1 year high of $52.94.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Tuesday, February 9th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.03. The company had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.92 billion. Cisco Systems had a return on equity of 32.64% and a net margin of 21.76%. During the same period in the prior year, the business earned $0.77 EPS. On average, analysts forecast that Cisco Systems, Inc. will post 2.86 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 28th. Stockholders of record on Tuesday, April 6th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, April 5th. This is a boost from Cisco Systems’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.87%. Cisco Systems’s dividend payout ratio is currently 50.68%.

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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