Cisco Systems, Inc. (NASDAQ:CSCO) Stake Lowered by Davidson Investment Advisors

Davidson Investment Advisors decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 5.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 381,308 shares of the network equipment provider's stock after selling 20,391 shares during the period. Cisco Systems accounts for 1.2% of Davidson Investment Advisors' investment portfolio, making the stock its 28th biggest position. Davidson Investment Advisors' holdings in Cisco Systems were worth $23,531,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of CSCO. Glass Jacobson Investment Advisors llc grew its position in shares of Cisco Systems by 8.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock valued at $123,000 after purchasing an additional 166 shares during the period. BlackDiamond Wealth Management LLC grew its position in shares of Cisco Systems by 3.1% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock valued at $335,000 after purchasing an additional 168 shares during the period. Legacy Financial Group Inc. boosted its holdings in Cisco Systems by 3.4% in the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock valued at $302,000 after acquiring an additional 169 shares during the last quarter. Capital Advantage Inc. boosted its holdings in Cisco Systems by 1.0% in the fourth quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider's stock valued at $1,028,000 after acquiring an additional 172 shares during the last quarter. Finally, Lynx Investment Advisory boosted its holdings in Cisco Systems by 3.9% in the fourth quarter. Lynx Investment Advisory now owns 4,593 shares of the network equipment provider's stock valued at $272,000 after acquiring an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CSCO shares. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $72.00 to $75.00 in a report on Thursday, May 15th. New Street Research reiterated a "neutral" rating and issued a $70.00 target price on shares of Cisco Systems in a report on Friday, May 16th. Citigroup lifted 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. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a "hold" rating to a "buy" rating and lifted their target price for the company from $65.00 to $73.00 in a report on Monday, June 16th. Finally, KeyCorp initiated coverage on Cisco Systems in a research note on Thursday, June 26th. They set an "overweight" rating and a $77.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cisco Systems has a consensus rating of "Moderate Buy" and a consensus target price of $69.53.

Insider Activity

In other Cisco Systems news, insider Jeetendra I. Patel sold 899 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total transaction of $57,778.73. Following the sale, the insider owned 255,377 shares in the company, valued at $16,413,079.79. This represents a 0.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Richard Scott Herren sold 15,678 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the sale, the chief financial officer owned 309,543 shares in the company, valued at $20,281,257.36. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock valued at $6,271,054 over the last three months. Company insiders own 0.01% of the company's stock.

Cisco Systems Stock Down 0.6%

Shares of NASDAQ:CSCO traded down $0.44 during trading on Monday, hitting $68.93. The company's stock had a trading volume of 22,606,868 shares, compared to its average volume of 20,365,212. 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 fifty-two week low of $44.50 and a fifty-two week high of $69.78. The stock's 50-day moving average price is $63.93 and its two-hundred day moving average price is $61.51. The company has a market capitalization of $272.96 billion, a PE ratio of 28.13, a PEG ratio of 4.15 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter in the previous year, the firm posted $0.88 earnings per share. The company's revenue was up 11.4% compared to the same quarter last year. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 EPS 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. This represents a $1.64 annualized dividend and a yield of 2.38%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's payout ratio is currently 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.