Novare Capital Management LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 202,391 shares of the network equipment provider's stock after selling 4,388 shares during the period. Novare Capital Management LLC's holdings in Cisco Systems were worth $12,490,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of CSCO. Navigoe LLC acquired a new stake in shares of Cisco Systems in the fourth quarter worth $26,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $26,000. JDM Financial Group LLC increased its stake in shares of 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 purchasing an additional 300 shares in the last quarter. Runnymede Capital Advisors Inc. purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $30,000. Finally, Campbell Capital Management Inc. purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 73.33% of the company's stock.
Analyst Ratings Changes
CSCO has been the subject of a number of research reports. Rosenblatt Securities boosted 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. Evercore ISI boosted their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. KeyCorp initiated coverage on shares of Cisco Systems in a report on Thursday, June 26th. They issued an "overweight" rating and a $77.00 price objective on the stock. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.53.
Check Out Our Latest Analysis on Cisco Systems
Insider Buying and Selling
In other news, CFO Richard Scott Herren sold 15,678 shares of the stock in a transaction on 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 completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeetendra I. Patel sold 899 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total transaction of $57,778.73. Following the completion of the sale, the insider directly owned 255,377 shares of the company's stock, valued at $16,413,079.79. The trade was a 0.35% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is owned by corporate insiders.
Cisco Systems Trading Up 1.5%
NASDAQ:CSCO traded up $1.05 during trading hours on Friday, reaching $69.64. 17,973,495 shares of the company were exchanged, compared to its average volume of 20,350,689. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The firm has a market cap of $275.77 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 4.15 and a beta of 0.90. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.78. The stock has a 50 day simple moving average of $63.93 and a 200 day simple moving average of $61.51.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. Cisco Systems's revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 earnings per share. As a group, analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.
Cisco Systems Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's payout ratio is currently 66.94%.
About Cisco Systems
(
Free Report)
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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