Cary Street Partners Financial LLC Purchases 70,233 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Cary Street Partners Financial LLC increased its holdings in Cisco Systems by 41.2%, acquiring an additional 70,233 shares during the first quarter, bringing total shares owned to 240,594 with a value of approximately $14.8 million.
• Insider transactions show that executives Jeetendra I. Patel and Thimaya K. Subaiya sold a total of 9,625 shares recently, indicating a decrease in their ownership of the company's stock.
• The company recently announced a quarterly dividend of $0.41 per share with a yield of 2.4%, reflecting a payout ratio of 66.94%.

Cary Street Partners Financial LLC grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 41.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 240,594 shares of the network equipment provider's stock after buying an additional 70,233 shares during the quarter. Cary Street Partners Financial LLC's holdings in Cisco Systems were worth $14,847,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Navigoe LLC bought a new stake in Cisco Systems during the fourth quarter worth about $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems during the fourth quarter worth about $26,000. JDM Financial Group LLC grew its stake in Cisco Systems by 160.4% during the fourth 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. Fairway Wealth LLC lifted its position in shares of Cisco Systems by 224.7% during the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock worth $36,000 after purchasing an additional 400 shares in the last quarter. Finally, Accent Capital Management LLC acquired a new position in shares of Cisco Systems during the first quarter worth approximately $36,000. 73.33% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Cisco Systems news, insider Jeetendra I. Patel sold 899 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $64.27, for a total value of $57,778.73. Following the sale, the insider directly owned 255,377 shares in the company, valued at approximately $16,413,079.79. This trade represents a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the completion of the sale, the executive vice president owned 174,669 shares in the company, valued at approximately $11,447,806.26. This trade represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is owned by company insiders.

Cisco Systems Trading Up 2.1%

CSCO opened at $68.49 on Tuesday. The firm's fifty day moving average is $66.98 and its two-hundred day moving average is $62.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The firm has a market cap of $271.22 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 3.76 and a beta of 0.91. 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 posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping 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 17.60% and a return on equity of 26.48%. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the business posted $0.88 earnings per share. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CSCO shares. Evercore ISI reiterated an "in-line" rating and set a $72.00 target price on shares of Cisco Systems in a research report on Monday, July 28th. Wolfe Research started coverage on shares of Cisco Systems in a research report on Tuesday, July 8th. They set a "peer perform" rating on the stock. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. KeyCorp started coverage on shares of Cisco Systems in a research report on Thursday, June 26th. They set an "overweight" rating and a $77.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and upped their target price for the stock from $65.00 to $73.00 in a research report on Monday, June 16th. Eight investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $70.35.

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.

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.