Cisco Systems, Inc. (NASDAQ:CSCO) Stock Position Lifted by Cerity Partners LLC

Cerity Partners LLC boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,465,316 shares of the network equipment provider's stock after buying an additional 78,270 shares during the period. Cerity Partners LLC owned 0.06% of Cisco Systems worth $152,135,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CSCO. Brighton Jones LLC boosted its stake in shares of Cisco Systems by 49.5% in the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock valued at $4,392,000 after buying an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock valued at $542,000 after acquiring an additional 2,474 shares during the period. Proficio Capital Partners LLC boosted its position in shares of Cisco Systems by 76.4% during the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock worth $1,003,000 after purchasing an additional 7,338 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Cisco Systems by 17.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 156,043 shares of the network equipment provider's stock worth $9,238,000 after purchasing an additional 23,250 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Cisco Systems by 21.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 16,427 shares of the network equipment provider's stock valued at $972,000 after purchasing an additional 2,863 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wolfe Research initiated coverage on Cisco Systems in a research note on Tuesday. They set a "peer perform" rating on the stock. JPMorgan Chase & Co. lifted their price objective on Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Evercore ISI upped their target price on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a "hold" rating to a "buy" rating and raised their price target for the company from $65.00 to $73.00 in a research report on Monday, June 16th. Finally, Rosenblatt Securities boosted their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $69.53.

Cisco Systems Trading Down 1.2%

CSCO traded down $0.81 during trading on Friday, hitting $67.95. The company's stock had a trading volume of 14,698,247 shares, compared to its average volume of 20,363,227. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78. The stock has a market cap of $269.08 billion, a PE ratio of 27.73, a PEG ratio of 4.11 and a beta of 0.90. The firm's 50 day moving average price is $64.84 and its 200-day moving average price is $61.75. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released 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. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the prior year, the business posted $0.88 earnings per share. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. On average, analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given 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 currently 66.94%.

Insiders Place Their Bets

In related news, EVP Oliver Tuszik sold 15,000 shares of Cisco Systems stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the sale, the executive vice president owned 131,676 shares of the company's stock, valued at $8,365,376.28. The trade was a 10.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the sale, the chief financial officer owned 309,543 shares of the company's stock, valued at $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. In the last ninety days, insiders sold 97,335 shares of company stock valued at $6,271,054. Corporate insiders own 0.01% of the company's stock.

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.