Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Requisite Capital Management LLC

Requisite Capital Management LLC reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 24.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 21,411 shares of the network equipment provider's stock after selling 6,806 shares during the period. Cisco Systems comprises 0.3% of Requisite Capital Management LLC's portfolio, making the stock its 21st biggest position. Requisite Capital Management LLC's holdings in Cisco Systems were worth $1,321,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. FPC Investment Advisory Inc. bought a new position in shares of Cisco Systems in the fourth quarter worth about $26,000. Navigoe LLC bought a new position in Cisco Systems in the 4th quarter worth about $26,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Cisco Systems during the fourth quarter worth approximately $26,000. JDM Financial Group LLC increased its position 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 acquiring an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $30,000. Institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Performance

CSCO stock traded down $0.75 during trading on Tuesday, reaching $65.15. The company had a trading volume of 17,177,140 shares, compared to its average volume of 20,115,902. 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 twelve month low of $44.50 and a twelve month high of $66.50. The company has a market cap of $257.99 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. The firm has a 50-day simple moving average of $59.69 and a 200-day simple moving average of $60.43.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The firm 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 business's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 earnings per share. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems announced that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.

Insider Buying and Selling

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the transaction, the chief executive officer now directly owns 688,409 shares of the company's stock, valued at approximately $44,478,105.49. This trade represents a 4.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Oliver Tuszik sold 15,000 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the completion of the sale, the executive vice president now directly owns 131,676 shares in the company, valued at $8,365,376.28. This trade represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,400 shares of company stock valued at $4,564,439 over the last quarter. 0.01% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on CSCO. New Street Research reiterated a "neutral" rating and issued a $70.00 target price on shares of Cisco Systems in a report on Friday, May 16th. DZ Bank raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 18th. Morgan Stanley reissued a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Wall Street Zen raised shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Finally, The Goldman Sachs Group lifted their price objective on shares of Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $68.00.

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.