Capital Investment Advisors LLC Sells 145,669 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Capital Investment Advisors LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 15.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 806,761 shares of the network equipment provider's stock after selling 145,669 shares during the quarter. Capital Investment Advisors LLC's holdings in Cisco Systems were worth $49,785,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Mainstream Capital Management LLC acquired a new position in shares of Cisco Systems in the fourth quarter valued at approximately $132,000. Proficio Capital Partners LLC grew its holdings in Cisco Systems by 76.4% in the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock valued at $1,003,000 after buying an additional 7,338 shares in the last quarter. Investment Management Corp of Ontario increased its position in Cisco Systems by 44.6% during the 4th quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock worth $11,454,000 after buying an additional 59,680 shares during the period. Aveo Capital Partners LLC lifted its holdings in shares of Cisco Systems by 8.3% during the fourth quarter. Aveo Capital Partners LLC now owns 5,296 shares of the network equipment provider's stock worth $314,000 after buying an additional 407 shares in the last quarter. Finally, AlTi Global Inc. boosted its position in shares of Cisco Systems by 49.8% in the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider's stock valued at $1,217,000 after acquiring an additional 6,811 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the transaction, the executive vice president now directly owns 191,184 shares of the company's stock, valued at approximately $11,604,868.80. This trade represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,400 shares of company stock worth $4,564,439. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $66.06 on Friday. The stock's 50-day moving average is $59.61 and its 200-day moving average is $60.36. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The stock has a market cap of $261.60 billion, a P/E ratio of 28.85, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping 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 business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same period last year, the company earned $0.88 EPS. The firm's revenue was up 11.4% compared to the same quarter last year. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio is presently 66.94%.

Wall Street Analyst Weigh In

Several analysts have weighed in on CSCO shares. New Street Research reiterated a "neutral" rating and issued a $70.00 price objective on shares of Cisco Systems in a research note on Friday, May 16th. UBS Group increased their price target on Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Citigroup raised their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. The Goldman Sachs Group upped their target price on Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Finally, Barclays restated an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $68.00.

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.

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