Long Run Wealth Advisors LLC Has $588,000 Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Long Run Wealth Advisors LLC trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 69.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,524 shares of the network equipment provider's stock after selling 21,338 shares during the quarter. Long Run Wealth Advisors LLC's holdings in Cisco Systems were worth $588,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems in the fourth quarter worth $26,000. Navigoe LLC acquired a new stake in Cisco Systems in the 4th quarter valued at $26,000. Mpwm Advisory Solutions LLC purchased a new position in Cisco Systems in the fourth quarter valued at about $26,000. JDM Financial Group LLC lifted 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. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter worth about $30,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cisco Systems news, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction dated 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 now directly owns 257,162 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 762 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the transaction, the senior vice president now owns 44,155 shares of the company's stock, valued at $2,693,013.45. This represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,616 shares of company stock worth $2,640,095 over the last three months. 0.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of recent research reports. UBS Group boosted their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Wells Fargo & Company raised 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 research report on Thursday, May 15th. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Evercore ISI boosted their price objective on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Finally, Rosenblatt Securities increased their price objective 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. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.00.

Cisco Systems Price Performance

NASDAQ:CSCO traded up $0.23 during trading hours on Thursday, reaching $64.62. The company had a trading volume of 17,001,251 shares, compared to its average volume of 20,148,370. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average of $59.47 and a two-hundred day moving average of $60.22. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The firm has a market capitalization of $255.90 billion, a PE ratio of 28.22, a PEG ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The business had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter last year, the company posted $0.88 EPS. The firm's revenue for the quarter was up 11.4% on a year-over-year basis. Analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems announced that its board has initiated a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) 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.