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

Court Place Advisors LLC cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 101,985 shares of the network equipment provider's stock after selling 4,741 shares during the quarter. Cisco Systems makes up about 2.1% of Court Place Advisors LLC's investment portfolio, making the stock its 11th largest position. Court Place Advisors LLC's holdings in Cisco Systems were worth $6,294,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CSCO. Slagle Financial LLC lifted its stake in Cisco Systems by 3.1% in the first quarter. Slagle Financial LLC now owns 61,322 shares of the network equipment provider's stock worth $3,784,000 after purchasing an additional 1,838 shares during the last quarter. Chemung Canal Trust Co. grew its position in Cisco Systems by 193.3% during the 1st quarter. Chemung Canal Trust Co. now owns 55,115 shares of the network equipment provider's stock worth $3,401,000 after acquiring an additional 36,322 shares during the last quarter. Cornerstone Planning Group LLC grew its position in Cisco Systems by 50.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 1,603 shares of the network equipment provider's stock worth $99,000 after acquiring an additional 541 shares during the last quarter. Financial Symmetry Inc grew its position in Cisco Systems by 13.0% during the 1st quarter. Financial Symmetry Inc now owns 7,596 shares of the network equipment provider's stock worth $469,000 after acquiring an additional 872 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC grew its position in Cisco Systems by 7.9% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 47,440 shares of the network equipment provider's stock worth $2,928,000 after acquiring an additional 3,491 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,407 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total transaction of $154,072.07. Following the completion of the sale, the executive vice president directly owned 177,027 shares in the company, valued at approximately $11,331,498.27. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value 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 represents a 4.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock worth $6,271,054 in the last 90 days. Insiders own 0.01% of the company's stock.

Cisco Systems Stock Down 0.7%

Shares of CSCO stock traded down $0.51 during mid-day trading on Thursday, reaching $68.76. 14,970,647 shares of the company's stock traded hands, compared to its average volume of 20,383,426. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The company has a market cap of $272.29 billion, a P/E ratio of 28.07, a P/E/G ratio of 4.14 and a beta of 0.90. The company's 50-day moving average price is $64.84 and its 200-day moving average price is $61.75. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly 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 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 quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 EPS. On average, equities analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

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 of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.39%. Cisco Systems's dividend payout ratio is currently 66.94%.

Analyst Ratings Changes

Several equities analysts recently issued reports on CSCO shares. JPMorgan Chase & Co. raised their price target on Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Barclays restated an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Wolfe Research began coverage on shares of Cisco Systems in a research report on Tuesday. They issued a "peer perform" rating on the stock. Evercore ISI boosted their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and boosted their price objective for the company from $65.00 to $73.00 in a research report on Monday, June 16th. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $69.53.

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.