Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 16.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,162 shares of the network equipment provider's stock after selling 28,135 shares during the period. Cisco Systems makes up 1.3% of Patton Albertson Miller Group LLC's portfolio, making the stock its 16th biggest position. Patton Albertson Miller Group LLC's holdings in Cisco Systems were worth $8,773,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Navigoe LLC acquired a new position in Cisco Systems in the 4th quarter worth $26,000. Mpwm Advisory Solutions LLC acquired a new position in Cisco Systems in the 4th quarter worth $26,000. JDM Financial Group LLC lifted its holdings in Cisco Systems by 160.4% in the 4th 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 in the last quarter. Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems in the 4th quarter worth $30,000. Finally, Fairway Wealth LLC lifted its holdings in Cisco Systems by 224.7% in the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock worth $36,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Activity

In related news, insider Jeetendra I. Patel sold 9,961 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.97, for a total transaction of $637,205.17. Following the transaction, the insider directly owned 257,162 shares of the company's stock, valued at approximately $16,450,653.14. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer directly owned 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. Insiders sold 97,335 shares of company stock valued at $6,271,054 in the last ninety days. Corporate insiders own 0.01% of the company's stock.

Analysts Set New Price Targets

CSCO has been the topic of a number of research analyst reports. Rosenblatt Securities increased their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Wolfe Research initiated coverage on shares of Cisco Systems in a research note on Tuesday, July 8th. They set a "peer perform" rating on the stock. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Citigroup increased their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, CICC Research initiated coverage on shares of Cisco Systems in a research note on Monday. They set an "outperform" rating and a $78.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $70.35.

Cisco Systems Stock Performance

Cisco Systems stock opened at $68.30 on Friday. The firm's 50 day simple moving average is $65.67 and its 200-day simple moving average is $62.03. The company has a market cap of $270.47 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 4.03 and a beta of 0.90. 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, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $69.78.

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. The business 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%. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share. As a group, equities research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.

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.

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