Callan Family Office LLC Lowers Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Callan Family Office LLC reduced its stake in Cisco Systems by 35.5% during the first quarter, holding 52,796 shares valued at approximately $3.26 million after the sale.
• Analysts have recently raised their price targets for Cisco Systems, with Citigroup increasing its target from $68 to $71 and Morgan Stanley from $67 to $70, indicating a positive outlook for the stock.
• Cisco Systems announced a quarterly dividend of $0.41, representing an annualized yield of 2.3% with a dividend payout ratio of 66.94%.

Callan Family Office LLC lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 35.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,796 shares of the network equipment provider's stock after selling 29,071 shares during the period. Callan Family Office LLC's holdings in Cisco Systems were worth $3,258,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Rossmore Private Capital lifted its position in shares of Cisco Systems by 0.3% during the 1st quarter. Rossmore Private Capital now owns 69,220 shares of the network equipment provider's stock valued at $4,272,000 after buying an additional 181 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Cisco Systems by 17.3% during the 1st quarter. HighTower Advisors LLC now owns 5,436,337 shares of the network equipment provider's stock valued at $335,476,000 after buying an additional 801,601 shares during the last quarter. AIA Group Ltd raised its stake in shares of Cisco Systems by 62.6% during the 1st quarter. AIA Group Ltd now owns 60,907 shares of the network equipment provider's stock valued at $3,759,000 after purchasing an additional 23,459 shares during the period. Longfellow Investment Management Co. LLC raised its stake in shares of Cisco Systems by 16.9% during the 1st quarter. Longfellow Investment Management Co. LLC now owns 21,515 shares of the network equipment provider's stock valued at $1,328,000 after purchasing an additional 3,114 shares during the period. Finally, Meridian Wealth Management LLC raised its stake in shares of Cisco Systems by 0.9% during the 1st quarter. Meridian Wealth Management LLC now owns 21,759 shares of the network equipment provider's stock valued at $1,341,000 after purchasing an additional 196 shares during the period. Hedge funds and other institutional investors own 73.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Rosenblatt Securities reiterated a "buy" rating and set a $87.00 price objective on shares of Cisco Systems in a research note on Thursday. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a "hold" rating to a "buy" rating and increased their price objective for the company from $65.00 to $73.00 in a research report on Monday, June 16th. Evercore ISI increased their price objective on Cisco Systems from $72.00 to $74.00 and gave the company an "in-line" rating in a research report on Thursday. Morgan Stanley increased their price objective on Cisco Systems from $67.00 to $70.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Finally, Wells Fargo & Company increased their price objective on Cisco Systems from $75.00 to $83.00 and gave the company an "overweight" rating in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems has a consensus rating of "Moderate Buy" and an average target price of $72.90.

Cisco Systems Trading Down 1.6%

NASDAQ CSCO traded down $1.10 on Thursday, hitting $69.30. The company's stock had a trading volume of 39,245,132 shares, compared to its average volume of 21,526,674. Cisco Systems, Inc. has a 52-week low of $47.85 and a 52-week high of $72.55. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The company's 50-day simple moving average is $67.89 and its 200 day simple moving average is $63.21. The firm has a market cap of $274.43 billion, a P/E ratio of 28.29, a PEG ratio of 3.96 and a beta of 0.91.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.01. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business had revenue of $14.67 billion during the quarter, compared to analysts' expectations of $14.63 billion. During the same quarter last year, the business posted $0.87 EPS. The business's revenue was up 7.6% on a year-over-year basis. Research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, October 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Insider Buying and Selling

In other news, CFO Richard Scott Herren sold 15,678 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the transaction, the chief financial officer owned 309,543 shares in the company, valued at $20,281,257.36. This trade represents a 4.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were 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 owned 181,186 shares of the company's stock, valued at approximately $11,505,311. The trade was a 5.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock worth $6,271,054 over the last quarter. Company 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.