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

Berkeley Inc reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 78.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,889 shares of the network equipment provider's stock after selling 17,802 shares during the period. Berkeley Inc's holdings in Cisco Systems were worth $302,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. CWM LLC lifted its holdings in Cisco Systems by 3.2% in the first quarter. CWM LLC now owns 1,161,868 shares of the network equipment provider's stock valued at $71,699,000 after acquiring an additional 36,019 shares during the last quarter. TFR Capital LLC. boosted its position in shares of Cisco Systems by 109.3% during the first quarter. TFR Capital LLC. now owns 7,515 shares of the network equipment provider's stock worth $464,000 after buying an additional 3,925 shares during the period. Hughes Financial Services LLC acquired a new stake in shares of Cisco Systems in the first quarter valued at $112,000. Pittenger & Anderson Inc. raised its holdings in shares of Cisco Systems by 1.7% in the 1st quarter. Pittenger & Anderson Inc. now owns 219,023 shares of the network equipment provider's stock valued at $13,516,000 after buying an additional 3,675 shares during the period. Finally, Stephens Inc. AR boosted its position in Cisco Systems by 0.7% in the 1st quarter. Stephens Inc. AR now owns 511,402 shares of the network equipment provider's stock valued at $31,559,000 after buying an additional 3,672 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Stock Down 1.2%

Shares of NASDAQ:CSCO traded down $0.81 during midday trading on Friday, hitting $67.95. 14,698,247 shares of the company's stock traded hands, compared to its average volume of 20,360,928. The firm's fifty day moving average price is $65.02 and its two-hundred day moving average price is $61.82. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78. The company has a market cap of $269.08 billion, a PE ratio of 27.73, a P/E/G ratio of 4.07 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued 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 company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company's revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 earnings per share. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors 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 yield of 2.41%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is 66.94%.

Insider Transactions at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 9,643 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the completion of the transaction, the executive vice president owned 181,186 shares of the company's stock, valued at approximately $11,505,311. This represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 29,784 shares of the company'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 value of $1,924,344.24. Following the completion of the transaction, the chief executive officer directly owned 688,409 shares in the company, valued at approximately $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 a total of 97,335 shares of company stock worth $6,271,054 over the last three months. Insiders own 0.01% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a "hold" rating to a "buy" rating and increased their price target for the company from $65.00 to $73.00 in a research report on Monday, June 16th. KeyCorp initiated coverage on shares of Cisco Systems in a research report on Thursday, June 26th. They issued an "overweight" rating and a $77.00 price objective on the stock. Rosenblatt Securities boosted their target price 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. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, Wolfe Research started coverage on Cisco Systems in a research report on Tuesday, July 8th. They set a "peer perform" rating on the stock. Eight analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Cisco Systems currently has a consensus rating of "Moderate Buy" and an average price target of $69.53.

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.