Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Berkeley Inc

Berkeley Inc reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 51.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 22,691 shares of the network equipment provider's stock after selling 23,769 shares during the period. Berkeley Inc's holdings in Cisco Systems were worth $1,343,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FPC Investment Advisory Inc. acquired a new stake in Cisco Systems in the 4th quarter worth about $26,000. Navigoe LLC acquired a new stake in Cisco Systems in the 4th quarter worth about $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems in the 4th quarter worth about $26,000. JDM Financial Group LLC boosted its holdings in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after buying an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $30,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Trading Down 0.4%

CSCO stock traded down $0.24 during midday trading on Friday, hitting $62.81. The stock had a trading volume of 25,829,006 shares, compared to its average volume of 20,320,818. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The company's 50-day moving average price is $59.30 and its 200 day moving average price is $60.10. The firm has a market cap of $248.73 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same period in the previous year, the company earned $0.88 EPS. The business's quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given 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 2.61%. Cisco Systems's payout ratio is currently 66.94%.

Cisco Systems announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

CSCO has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their target price on Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Citigroup boosted their target price on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. UBS Group boosted their target price on Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Finally, Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Eight investment 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's stock. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of "Moderate Buy" and an average target price of $68.00.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, insider Jeetendra I. Patel sold 9,961 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the sale, the insider now owns 257,162 shares in the company, valued at approximately $16,450,653.14. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. The trade was a 1.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,616 shares of company stock valued at $2,640,095 in the last ninety days. Insiders own 0.01% of the company's stock.

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. 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.