Bellecapital International Ltd. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 24.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,451 shares of the network equipment provider's stock after selling 17,332 shares during the period. Bellecapital International Ltd.'s holdings in Cisco Systems were worth $3,360,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Glass Jacobson Investment Advisors llc increased its holdings in shares of Cisco Systems by 8.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock valued at $123,000 after purchasing an additional 166 shares in the last quarter. Fairhaven Wealth Management LLC increased its holdings in shares of Cisco Systems by 2.3% during the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider's stock valued at $449,000 after purchasing an additional 167 shares in the last quarter. BlackDiamond Wealth Management LLC increased its holdings in Cisco Systems by 3.1% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock worth $335,000 after acquiring an additional 168 shares in the last quarter. Legacy Financial Group Inc. increased its holdings in Cisco Systems by 3.4% in the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock worth $302,000 after acquiring an additional 169 shares in the last quarter. Finally, Maple Capital Management Inc. increased its holdings in Cisco Systems by 1.4% in the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider's stock worth $709,000 after acquiring an additional 170 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, CEO Charles Robbins sold 29,784 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the sale, the chief executive officer now directly owns 688,409 shares of the company's stock, valued at $44,478,105.49. This trade represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total value of $48,821.34. Following the completion of the sale, the senior vice president now directly owns 36,937 shares of the company's stock, valued at approximately $2,366,553.59. This trade represents a 2.02% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,931 shares of company stock valued at $4,671,930. 0.01% of the stock is currently owned by company insiders.
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 20,142,259. 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 company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average of $60.47 and a 200 day moving average of $60.56.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The company 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%. The firm's revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 earnings per share. On average, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.
Cisco Systems Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is currently 66.94%.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on CSCO shares. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. 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. Wall Street Zen raised shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Finally, Rosenblatt Securities upped their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating 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 issued a strong buy rating to the company. According to data from MarketBeat, Cisco Systems currently has an average rating of "Moderate Buy" and an average price target of $68.00.
Check Out Our Latest Stock Analysis on Cisco Systems
Cisco Systems Profile
(
Free Report)
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.
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