Argus Investors Counsel Inc. Sells 4,600 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Argus Investors Counsel Inc. lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 31.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,985 shares of the network equipment provider's stock after selling 4,600 shares during the period. Argus Investors Counsel Inc.'s holdings in Cisco Systems were worth $616,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. FPC Investment Advisory Inc. bought a new stake in Cisco Systems in the fourth quarter valued at approximately $26,000. Navigoe LLC acquired a new position in shares of Cisco Systems in the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Cisco Systems in the 4th quarter valued at $26,000. JDM Financial Group LLC raised 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. Finally, Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 9,643 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the completion of the transaction, the executive vice president now owns 181,186 shares in the company, valued at $11,505,311. This represents a 5.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the sale, the chief executive officer now owns 688,409 shares in the company, valued at $44,478,105.49. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,931 shares of company stock worth $4,671,930. Insiders own 0.01% of the company's stock.

Cisco Systems Stock Down 1.6%

Shares of CSCO stock traded down $1.01 during trading hours on Friday, reaching $64.09. The company had a trading volume of 14,630,776 shares, compared to its average volume of 20,161,810. The company has a market cap of $253.80 billion, a price-to-earnings ratio of 27.99, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The business has a fifty day simple moving average of $60.47 and a 200-day simple moving average of $60.57.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued 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. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The business had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same period last year, the business earned $0.88 EPS. The business's revenue was up 11.4% on a year-over-year basis. On average, research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Rosenblatt Securities increased their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Citigroup raised their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and an average target price of $68.00.

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.