Silvercrest Asset Management Group LLC Has $125.28 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Silvercrest Asset Management Group LLC reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% during the fourth quarter, HoldingsChannel reports. The firm owned 2,116,197 shares of the network equipment provider’s stock after selling 48,028 shares during the quarter. Cisco Systems accounts for about 0.8% of Silvercrest Asset Management Group LLC’s investment portfolio, making the stock its 14th largest holding. Silvercrest Asset Management Group LLC’s holdings in Cisco Systems were worth $125,279,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Cisco Systems during the fourth quarter worth about $3,297,905,000. FMR LLC grew its position in shares of Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock valued at $4,571,218,000 after buying an additional 13,285,052 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Cisco Systems during the fourth quarter worth about $560,722,000. Alyeska Investment Group L.P. acquired a new position in shares of Cisco Systems in the fourth quarter worth approximately $413,491,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Cisco Systems by 187.9% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider’s stock valued at $442,749,000 after purchasing an additional 4,880,747 shares during the period. 73.33% of the stock is owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. This represents a 1.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,635 shares of company stock valued at $931,901 in the last 90 days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 4.8%

CSCO stock opened at $64.26 on Friday. The stock has a 50-day simple moving average of $58.69 and a two-hundred day simple moving average of $59.60. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The firm has a market capitalization of $255.65 billion, a PE ratio of 28.06, a PEG ratio of 4.16 and a beta of 0.89. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.05. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. During the same quarter in the prior year, the firm posted $0.88 EPS. On average, equities analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems declared that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.55%. Cisco Systems’s dividend payout ratio is currently 71.62%.

Wall Street Analyst Weigh In

A number of analysts have commented on CSCO shares. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a research report on Tuesday, January 28th. UBS Group raised their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Rosenblatt Securities upped their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a report on Thursday. Evercore ISI reduced their target price on Cisco Systems from $75.00 to $67.00 and set an “outperform” rating for the company in a research note on Monday, April 28th. Finally, Wells Fargo & Company raised Cisco Systems from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $72.00 to $75.00 in a research note on Thursday. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus target price of $66.53.

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.