Avanza Fonder AB Has $23.10 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Avanza Fonder AB cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 8.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 373,729 shares of the network equipment provider's stock after selling 33,975 shares during the quarter. Cisco Systems accounts for about 0.8% of Avanza Fonder AB's investment portfolio, making the stock its 18th largest holding. Avanza Fonder AB's holdings in Cisco Systems were worth $23,104,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Tallon Kerry Patrick purchased a new position in Cisco Systems during the fourth quarter valued at approximately $603,000. Brighton Jones LLC raised its stake in Cisco Systems by 49.5% during the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock valued at $4,392,000 after purchasing an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in Cisco Systems by 37.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock valued at $542,000 after purchasing an additional 2,474 shares in the last quarter. WCM Investment Management LLC raised its stake in shares of Cisco Systems by 152.6% in the fourth quarter. WCM Investment Management LLC now owns 88,025 shares of the network equipment provider's stock valued at $5,210,000 after acquiring an additional 53,183 shares during the period. Finally, Quotient Wealth Partners LLC raised its stake in shares of Cisco Systems by 27.6% in the fourth quarter. Quotient Wealth Partners LLC now owns 10,703 shares of the network equipment provider's stock valued at $634,000 after acquiring an additional 2,312 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on CSCO. Citigroup upped their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. UBS Group increased their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. DZ Bank raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $68.00.

Cisco Systems Stock Down 1.6%

Cisco Systems stock traded down $1.01 during mid-day trading on Friday, hitting $64.09. The company had a trading volume of 14,630,776 shares, compared to its average volume of 20,142,195. The stock has a market cap of $253.80 billion, a price-to-earnings ratio of 27.99, a PEG ratio of 4.16 and a beta of 0.88. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The business has a fifty day moving average of $60.25 and a 200 day moving average of $60.53. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same period last year, the company earned $0.88 earnings per share. The company's revenue for the quarter was up 11.4% on a year-over-year basis. On average, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's payout ratio is currently 66.94%.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 2,407 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total transaction of $154,072.07. Following the completion of the transaction, the executive vice president now owns 177,027 shares in the company, valued at $11,331,498.27. The trade was a 1.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer now owns 688,409 shares of the company's stock, valued at $44,478,105.49. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,931 shares of company stock valued at $4,671,930 over the last quarter. Insiders own 0.01% of the company's stock.

Cisco Systems Company 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.