Delta Financial Group Inc. lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 15.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,751 shares of the network equipment provider's stock after selling 4,275 shares during the quarter. Delta Financial Group Inc.'s holdings in Cisco Systems were worth $1,387,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of CSCO. Navigoe LLC acquired a new stake in Cisco Systems in the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems in the fourth quarter valued at approximately $26,000. JDM Financial Group LLC raised its stake in 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 buying an additional 300 shares during the period. Fairway Wealth LLC lifted its position 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 buying an additional 400 shares during the last quarter. Finally, Accredited Wealth Management LLC bought a new position in shares of Cisco Systems during the 4th quarter worth approximately $37,000. 73.33% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on CSCO shares. Deutsche Bank Aktiengesellschaft upgraded 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 note on Monday, June 16th. CICC Research began coverage on shares of Cisco Systems in a research note on Monday, July 14th. They set an "outperform" rating and a $78.00 target price for the company. New Street Research reiterated a "neutral" rating and issued a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. Wall Street Zen cut shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Finally, Morgan Stanley boosted their price objective on Cisco Systems from $67.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Eight analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems presently has an average rating of "Moderate Buy" and an average price target of $70.35.
Check Out Our Latest Research Report on CSCO
Cisco Systems Price Performance
Shares of NASDAQ:CSCO opened at $67.11 on Friday. The firm has a 50 day moving average of $66.87 and a 200-day moving average of $62.74. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.78. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $265.76 billion, a PE ratio of 27.39, a PEG ratio of 4.01 and a beta of 0.91.
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, beating analysts' consensus estimates 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 net margin of 17.60% and a return on equity of 26.48%. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the company posted $0.88 EPS. On average, equities research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
Cisco Systems Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were issued a dividend of $0.41 per share. The ex-dividend date was Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.4%. Cisco Systems's dividend payout ratio is 66.94%.
Insider Activity at Cisco Systems
In other Cisco Systems news, insider Jeetendra I. Patel sold 9,961 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.97, for a total value of $637,205.17. Following the completion of the transaction, the insider owned 257,162 shares of the company's stock, valued at $16,450,653.14. This represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.50, for a total value of $612,330.50. Following the completion of the sale, the executive vice president directly owned 181,186 shares of the company's stock, valued at approximately $11,505,311. The trade was a 5.05% 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. 0.01% of the stock is owned by company insiders.
About Cisco Systems
(
Free Report)
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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