Blair William & Co. IL Sells 7,121 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Blair William & Co. IL sold 7,121 shares of Cisco Systems, reducing their ownership by 0.9%, with total holdings now at 765,725 shares valued at $47.25 million.
• Cisco Systems reported a Q1 earnings per share of $0.96, surpassing the consensus estimate of $0.92, and showing an 11.4% year-over-year revenue growth to $14.15 billion.
• The company announced a quarterly dividend of $0.41 per share, leading to a dividend yield of 2.4% and a payout ratio of 66.94%.

Blair William & Co. IL reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 0.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 765,725 shares of the network equipment provider's stock after selling 7,121 shares during the quarter. Blair William & Co. IL's holdings in Cisco Systems were worth $47,253,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CSCO. Glass Jacobson Investment Advisors llc increased its holdings in Cisco Systems by 8.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock worth $123,000 after buying an additional 166 shares during the last quarter. Legacy Financial Group Inc. raised its stake in Cisco Systems by 3.4% in the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock valued at $302,000 after purchasing an additional 169 shares in the last quarter. Capital Advantage Inc. raised its stake in Cisco Systems by 1.0% in the fourth quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider's stock valued at $1,028,000 after purchasing an additional 172 shares in the last quarter. Avalon Trust Co raised its stake in Cisco Systems by 5.4% in the first quarter. Avalon Trust Co now owns 3,433 shares of the network equipment provider's stock valued at $212,000 after purchasing an additional 177 shares in the last quarter. Finally, Wealthstream Advisors Inc. raised its stake in Cisco Systems by 5.5% during the first quarter. Wealthstream Advisors Inc. now owns 3,687 shares of the network equipment provider's stock worth $228,000 after acquiring an additional 191 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $67.11 on Monday. The stock has a market cap of $265.76 billion, a P/E ratio of 27.39, a P/E/G ratio of 3.76 and a beta of 0.91. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average of $66.87 and a two-hundred day moving average of $62.76. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued 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 return on equity of 26.48% and a net margin of 17.60%. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the prior year, the business earned $0.88 earnings per share. The business's revenue was up 11.4% on a year-over-year basis. On average, research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were given a $0.41 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.4%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CSCO shares. Wolfe Research began coverage on Cisco Systems in a research note on Tuesday, July 8th. They issued a "peer perform" rating for the company. CICC Research began coverage on Cisco Systems in a research report on Monday, July 14th. They set an "outperform" rating and a $78.00 target price on the stock. Citigroup raised 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. New Street Research reiterated a "neutral" rating and set a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. Finally, Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Eight analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $70.35.

Insider Buying and Selling

In related news, EVP Deborah L. Stahlkopf sold 9,643 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the transaction, the executive vice president directly owned 181,186 shares of the company's stock, valued at approximately $11,505,311. The trade was a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the transaction, the insider directly owned 257,162 shares in the company, valued at approximately $16,450,653.14. This represents a 3.73% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is currently owned by insiders.

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.

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