Aviance Capital Partners LLC lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,758 shares of the network equipment provider's stock after acquiring an additional 4,053 shares during the quarter. Cisco Systems accounts for approximately 0.8% of Aviance Capital Partners LLC's holdings, making the stock its 26th largest position. Aviance Capital Partners LLC's holdings in Cisco Systems were worth $5,847,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Navigoe LLC acquired a new position in Cisco Systems in the fourth quarter worth $26,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Cisco Systems in the 4th quarter valued at about $26,000. JDM Financial Group LLC boosted its holdings in shares of Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after buying an additional 300 shares during the period. Runnymede Capital Advisors Inc. acquired a new position in shares of Cisco Systems in the 4th quarter valued at about $30,000. Finally, Campbell Capital Management Inc. acquired a new position in shares of Cisco Systems in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 73.33% of the company's stock.
Insider Buying and Selling
In related news, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were 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 directly owned 174,669 shares of the company's stock, valued at $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the sale, the chief financial officer directly 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 97,335 shares of company stock worth $6,271,054 in the last ninety days. Insiders own 0.01% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have commented on CSCO shares. JPMorgan Chase & Co. lifted their target price on Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Citigroup boosted their price objective on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a "hold" rating to a "buy" rating and boosted their price objective for the company from $65.00 to $73.00 in a research report on Monday, June 16th. Rosenblatt Securities boosted their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, KeyCorp initiated coverage on shares of Cisco Systems in a report on Thursday, June 26th. They set an "overweight" rating and a $77.00 price target for the company. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $69.53.
View Our Latest Stock Report on Cisco Systems
Cisco Systems Price Performance
CSCO traded up $1.05 during trading on Friday, reaching $69.64. The stock had a trading volume of 17,973,495 shares, compared to its average volume of 20,350,689. The firm has a market capitalization of $275.77 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 4.15 and a beta of 0.90. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $69.78. The stock has a 50 day moving average of $63.93 and a two-hundred day moving average of $61.48.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data 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 business 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%. The company's revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
Cisco Systems Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.
About Cisco Systems
(
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.
Further Reading
Before you consider Cisco Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cisco Systems wasn't on the list.
While Cisco Systems currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
