Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by GTS Securities LLC

GTS Securities LLC lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 76.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,454 shares of the network equipment provider's stock after selling 141,380 shares during the quarter. GTS Securities LLC's holdings in Cisco Systems were worth $2,572,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CSCO. Mainstream Capital Management LLC acquired a new stake in shares of Cisco Systems during the fourth quarter worth about $132,000. Proficio Capital Partners LLC lifted its position in shares of Cisco Systems by 76.4% during the fourth 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. CENTRAL TRUST Co lifted its position in shares of Cisco Systems by 4.8% during the fourth quarter. CENTRAL TRUST Co now owns 112,101 shares of the network equipment provider's stock worth $6,636,000 after purchasing an additional 5,123 shares in the last quarter. Requisite Capital Management LLC acquired a new stake in shares of Cisco Systems during the fourth quarter worth about $1,670,000. Finally, Stonegate Investment Group LLC lifted its position in shares of Cisco Systems by 0.8% during the fourth quarter. Stonegate Investment Group LLC now owns 1,539,557 shares of the network equipment provider's stock worth $91,142,000 after purchasing an additional 11,506 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $63.11 on Friday. The firm has a market capitalization of $251.07 billion, a P/E ratio of 27.56, a P/E/G ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The firm's 50 day moving average is $59.05 and its two-hundred day moving average is $59.93.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The firm's revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 earnings per share. Research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.60%. Cisco Systems's dividend payout ratio is currently 66.94%.

Cisco Systems declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. UBS Group increased their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Wells Fargo & Company raised shares of 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 research report on Thursday, May 15th. Citigroup increased their price target 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. Rosenblatt Securities upped their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Evercore ISI upped their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $68.00.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the transaction, the senior vice president now directly owns 44,155 shares in the company, valued at approximately $2,693,013.45. This trade represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares in the company, valued at approximately $11,604,868.80. This trade represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,431 shares of company stock worth $1,421,356 over the last three months. 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.

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