Portside Wealth Group LLC Sells 9,960 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Portside Wealth Group LLC lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 11.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,546 shares of the network equipment provider's stock after selling 9,960 shares during the quarter. Cisco Systems makes up 0.8% of Portside Wealth Group LLC's holdings, making the stock its 27th biggest position. Portside Wealth Group LLC's holdings in Cisco Systems were worth $4,531,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Wealth Alliance Advisory Group LLC raised its stake in Cisco Systems by 75.6% in the 1st quarter. Wealth Alliance Advisory Group LLC now owns 34,543 shares of the network equipment provider's stock valued at $2,132,000 after acquiring an additional 14,873 shares during the period. Nixon Peabody Trust Co. raised its stake in Cisco Systems by 12.0% in the 1st quarter. Nixon Peabody Trust Co. now owns 4,600 shares of the network equipment provider's stock valued at $284,000 after acquiring an additional 492 shares during the period. Firethorn Wealth Partners LLC raised its stake in Cisco Systems by 5.1% in the 1st quarter. Firethorn Wealth Partners LLC now owns 6,791 shares of the network equipment provider's stock valued at $419,000 after acquiring an additional 331 shares during the period. Financial Management Professionals Inc. raised its stake in Cisco Systems by 3.9% in the 1st quarter. Financial Management Professionals Inc. now owns 11,098 shares of the network equipment provider's stock valued at $685,000 after acquiring an additional 416 shares during the period. Finally, Benin Management CORP raised its stake in Cisco Systems by 0.7% in the 1st quarter. Benin Management CORP now owns 38,327 shares of the network equipment provider's stock valued at $2,365,000 after acquiring an additional 261 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Activity at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares of the company's stock, valued at approximately $11,604,868.80. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction dated 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 sale, the chief executive officer now directly 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. Insiders have sold 71,400 shares of company stock valued at $4,564,439 over the last ninety days. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Price Performance

Shares of NASDAQ CSCO traded up $1.44 during mid-day trading on Friday, reaching $66.06. The company had a trading volume of 20,913,335 shares, compared to its average volume of 20,153,531. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The firm has a market cap of $261.60 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 4.16 and a beta of 0.88. The business's 50-day simple moving average is $59.61 and its 200 day simple moving average is $60.34.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released 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. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Cisco Systems's 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. On average, research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

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

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CSCO shares. Barclays restated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Citigroup increased their price target on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. UBS Group increased their price target on Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Finally, Rosenblatt Securities increased their price objective on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems currently has an average rating of "Moderate Buy" and a consensus price target 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.