Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Spinnaker Trust

Spinnaker Trust lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 8.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,732 shares of the network equipment provider's stock after selling 6,467 shares during the period. Spinnaker Trust's holdings in Cisco Systems were worth $4,427,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Navigoe LLC bought a new stake in Cisco Systems during the fourth quarter worth approximately $26,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Cisco Systems during the 4th quarter valued at $26,000. JDM Financial Group LLC increased its position in shares of Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after purchasing an additional 300 shares during the period. Runnymede Capital Advisors Inc. bought a new stake in shares of Cisco Systems in the 4th quarter worth $30,000. Finally, Campbell Capital Management Inc. acquired a new stake in shares of Cisco Systems in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 73.33% of the company's stock.

Insiders Place Their Bets

In other news, CFO Richard Scott Herren sold 15,678 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the sale, the chief financial officer now directly owns 309,543 shares of the company's stock, valued at $20,281,257.36. This trade represents a 4.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,726 shares of Cisco Systems stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total value of $571,902.04. Following the sale, the executive vice president now owns 174,669 shares of the company's stock, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock worth $6,271,054 in the last quarter. 0.01% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. New Street Research restated a "neutral" rating and set a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. KeyCorp began coverage on shares of Cisco Systems in a research note on Thursday. They set an "overweight" rating and a $77.00 target price for the company. Finally, Citigroup lifted 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. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $69.53.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $68.65 on Monday. The company has a market capitalization of $271.85 billion, a price-to-earnings ratio of 28.02, a P/E/G ratio of 4.11 and a beta of 0.88. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $69.22. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The stock's fifty day simple moving average is $62.57 and its 200-day simple moving average is $61.12.

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, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 EPS. On average, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed 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 of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.39%. Cisco Systems's dividend payout ratio is presently 66.94%.

About Cisco Systems

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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