BLB&B Advisors LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 30.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,790 shares of the network equipment provider's stock after selling 12,335 shares during the quarter. BLB&B Advisors LLC's holdings in Cisco Systems were worth $1,777,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently bought and sold shares of the business. RKL Wealth Management LLC boosted its holdings in Cisco Systems by 31.4% during the first quarter. RKL Wealth Management LLC now owns 6,777 shares of the network equipment provider's stock valued at $418,000 after acquiring an additional 1,621 shares during the period. Rovin Capital UT ADV bought a new position in Cisco Systems during the first quarter valued at about $297,000. ABLE Financial Group LLC increased its stake in Cisco Systems by 6.7% during the first quarter. ABLE Financial Group LLC now owns 5,138 shares of the network equipment provider's stock valued at $317,000 after acquiring an additional 322 shares during the period. Alta Advisers Ltd lifted its stake in Cisco Systems by 49.0% during the first quarter. Alta Advisers Ltd now owns 19,459 shares of the network equipment provider's stock worth $1,201,000 after purchasing an additional 6,400 shares during the period. Finally, Benchmark Financial Wealth Advisors LLC lifted its stake in Cisco Systems by 15.4% during the first quarter. Benchmark Financial Wealth Advisors LLC now owns 11,894 shares of the network equipment provider's stock worth $734,000 after purchasing an additional 1,585 shares during the period. 73.33% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total transaction of $48,821.34. Following the sale, the senior vice president directly owned 36,937 shares of the company's stock, valued at $2,366,553.59. The trade was a 2.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Richard Scott Herren sold 15,678 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the transaction, the chief financial officer owned 309,543 shares of the company's stock, valued at approximately $20,281,257.36. This represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock worth $6,271,054 in the last ninety days. 0.01% of the stock is owned by insiders.
Cisco Systems Price Performance
CSCO opened at $69.38 on Tuesday. The company has a fifty day moving average price of $62.87 and a two-hundred day moving average price of $61.19. 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, Inc. has a 52 week low of $44.50 and a 52 week high of $69.78. The firm has a market capitalization of $274.74 billion, a PE ratio of 28.32, a P/E/G ratio of 4.11 and a beta of 0.88.
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, topping analysts' consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share. As a group, analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.
Cisco Systems Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.36%. Cisco Systems's dividend payout ratio is currently 66.94%.
Wall Street Analyst Weigh In
A number of research analysts have commented on CSCO shares. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and raised their price target for the stock from $65.00 to $73.00 in a research note on Monday, June 16th. KeyCorp started coverage on shares of Cisco Systems in a research note on Thursday, June 26th. They issued an "overweight" rating and a $77.00 target price for the company. Rosenblatt Securities lifted their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Citigroup lifted their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, fourteen have assigned 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 an average rating of "Moderate Buy" and a consensus target price of $69.53.
Read Our Latest Stock Report on Cisco Systems
Cisco Systems Profile
(
Free Report)
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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