Court Place Advisors LLC Sells 4,741 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Court Place Advisors LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,985 shares of the network equipment provider's stock after selling 4,741 shares during the period. Cisco Systems comprises approximately 2.1% of Court Place Advisors LLC's portfolio, making the stock its 11th biggest position. Court Place Advisors LLC's holdings in Cisco Systems were worth $6,294,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CSCO. Norges Bank purchased a new stake in shares of Cisco Systems during the fourth quarter worth $3,297,905,000. FMR LLC raised its holdings in shares of Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after acquiring an additional 13,285,052 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Cisco Systems during the fourth quarter worth $413,491,000. GAMMA Investing LLC raised its holdings in shares of Cisco Systems by 7,096.5% during the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock worth $414,593,000 after acquiring an additional 6,625,045 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Cisco Systems by 187.9% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider's stock worth $442,749,000 after acquiring an additional 4,880,747 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Stock Performance

CSCO stock traded down $0.81 during trading on Friday, reaching $67.95. 14,698,247 shares of the stock were exchanged, compared to its average volume of 20,360,928. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78. The company has a market capitalization of $269.08 billion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 4.07 and a beta of 0.90. The stock has a 50 day simple moving average of $65.02 and a 200-day simple moving average of $61.82. 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 (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 business had revenue of $14.15 billion for 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 firm's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the business earned $0.88 earnings per share. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

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 issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.

Insider Activity at Cisco Systems

In other news, insider Jeetendra I. Patel sold 899 shares of Cisco Systems stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $64.27, for a total value of $57,778.73. Following the completion of the transaction, the insider owned 255,377 shares in the company, valued at approximately $16,413,079.79. The trade was a 0.35% 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, EVP Thimaya K. Subaiya sold 8,726 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 174,669 shares of the company's stock, valued at $11,447,806.26. This trade represents a 4.76% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, 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

Several analysts recently issued reports on CSCO shares. Evercore ISI increased their price objective on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Wall Street Zen lowered Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Saturday. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $72.00 to $75.00 in a report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a "hold" rating to a "buy" rating and raised their target price for the company from $65.00 to $73.00 in a report on Monday, June 16th. Finally, Citigroup raised their target price on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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.