Griffin Asset Management Inc. increased its stake in Cisco Systems by 3.9% in the first quarter, adding 313 shares to their holdings, bringing the total to 8,348 shares worth $417,000. Other institutional investors and hedge funds also made changes to their positions in Cisco Systems, including Mcintyre Freedman & Flynn Investment Advisers Inc., Hyman Charles D, and Madrona Financial Services LLC. On the stock market, Cisco Systems shares rose 0.1% to $47.51. The company recently reported quarterly earnings, beating analyst estimates with an EPS of $0.88 and revenue of $12.7 billion.
Additionally, Cisco Systems announced a quarterly dividend of $0.40 payable on July 24th, with a yield of 3.37%. The company’s payout ratio is 53.87%. Analysts have provided various ratings for CSCO stock, with MarketBeat data showing an average rating of “Hold” and a consensus price target of $56.47. EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock, while Senior Vice President Maria Victoria Wong sold 762 shares.
Cisco Systems designs, manufactures, and sells Internet protocol-based networks and related products globally. The company offers a range of products including switching, routing, wireless, and computing portfolios. With a market capitalization of $191.41 billion and a price-to-earnings ratio of 16.00, Cisco Systems continues to be a prominent player in the communications and information technology industry.
For more information on Cisco Systems and its recent activities, investors can visit HoldingsChannel.com for the latest 13F filings and insider transactions. Subscribing to MarketBeat.com will also provide daily news and ratings updates on Cisco Systems and other related companies.
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