Callahan Advisors LLC Boosts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Callahan Advisors LLC lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 7.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 70,439 shares of the network equipment provider's stock after purchasing an additional 4,939 shares during the period. Callahan Advisors LLC's holdings in Cisco Systems were worth $4,347,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Navigoe LLC acquired a new position in Cisco Systems in the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC acquired a new position in Cisco Systems in the 4th quarter valued at about $26,000. JDM Financial Group LLC increased its position in 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 acquiring an additional 300 shares during the period. Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems in the 4th quarter valued at about $30,000. Finally, Campbell Capital Management Inc. acquired a new position in Cisco Systems in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Price Performance

CSCO stock traded down $0.81 on Friday, reaching $67.95. The company had a trading volume of 14,698,247 shares, compared to its average volume of 20,363,227. The company's fifty day moving average is $64.84 and its 200 day moving average is $61.75. 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 company has a market cap of $269.08 billion, a P/E ratio of 27.73, a PEG ratio of 4.11 and a beta of 0.90. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $69.78.

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

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued 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 2.41%. Cisco Systems's payout ratio is 66.94%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CSCO. KeyCorp assumed coverage on Cisco Systems in a research report on Thursday, June 26th. They issued an "overweight" rating and a $77.00 price target on the stock. Wolfe Research assumed coverage on Cisco Systems in a research report on Tuesday. They set a "peer perform" rating on the stock. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. New Street Research reiterated a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Finally, Rosenblatt Securities boosted their target price on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $69.53.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 8,726 shares of the company's 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 directly owned 174,669 shares in the company, valued at $11,447,806.26. This represents a 4.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeetendra I. Patel sold 899 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total value of $57,778.73. Following the sale, the insider owned 255,377 shares of the company's stock, valued at approximately $16,413,079.79. The trade was a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Company 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.