Blue Trust Inc. Grows Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Blue Trust Inc. boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 19.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,748 shares of the network equipment provider's stock after purchasing an additional 6,391 shares during the period. Blue Trust Inc.'s holdings in Cisco Systems were worth $2,453,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Morgan Stanley reissued a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. New Street Research restated a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a report on Friday, May 16th. Barclays restated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems has a consensus rating of "Moderate Buy" and a consensus price target of $69.11.

Cisco Systems Stock Up 0.8%

CSCO opened at $65.84 on Thursday. The company has a fifty day moving average of $61.02 and a two-hundred day moving average of $60.69. The stock has a market capitalization of $260.73 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 3.91 and a beta of 0.88. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. Cisco Systems's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 EPS. On average, research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.49%. Cisco Systems's dividend payout ratio is currently 66.94%.

Insider Buying and Selling

In related news, insider Jeetendra I. Patel sold 899 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total transaction of $57,778.73. Following the completion of the sale, the insider now directly owns 255,377 shares in the company, valued at approximately $16,413,079.79. The trade was a 0.35% 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 the SEC website. 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 transaction, the senior vice president now owns 36,937 shares in the company, valued at $2,366,553.59. The trade was a 2.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,931 shares of company stock worth $4,671,930 in the last 90 days. Insiders own 0.01% of the company's stock.

About Cisco Systems

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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