Close Asset Management Ltd Sells 11,760 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Close Asset Management Ltd trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 335,151 shares of the network equipment provider's stock after selling 11,760 shares during the period. Close Asset Management Ltd's holdings in Cisco Systems were worth $20,677,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CSCO. Navigoe LLC purchased a new stake in Cisco Systems during the fourth quarter valued at $26,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Cisco Systems in the fourth quarter valued at $26,000. JDM Financial Group LLC raised its stake in shares of Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after acquiring an additional 300 shares during the period. Fairway Wealth LLC raised its stake in shares of Cisco Systems by 224.7% in the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock valued at $36,000 after acquiring an additional 400 shares during the period. Finally, Accredited Wealth Management LLC purchased a new position in Cisco Systems in the 4th quarter worth about $37,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total value of $48,821.34. Following the sale, the senior vice president directly owned 36,937 shares in the company, valued at approximately $2,366,553.59. This trade represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the sale, the executive vice president owned 174,669 shares in the company, valued at approximately $11,447,806.26. The trade was a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 97,335 shares of company stock valued at $6,271,054. Corporate insiders own 0.01% of the company's stock.

Analyst Ratings Changes

CSCO has been the subject of a number of recent research reports. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and upped their target price for the stock from $65.00 to $73.00 in a research note on Monday, June 16th. CICC Research initiated coverage on Cisco Systems in a report on Monday, July 14th. They set an "outperform" rating and a $78.00 price target for the company. Evercore ISI raised their price target on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Finally, Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $70.35.

Cisco Systems Stock Performance

CSCO opened at $68.16 on Wednesday. The business's 50 day moving average is $65.84 and its 200-day moving average is $62.13. The stock has a market cap of $269.91 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 4.09 and a beta of 0.90. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78.

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

Cisco Systems Dividend Announcement

The company 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 dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.41%. Cisco Systems's dividend payout ratio is 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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