Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Fortem Financial Group LLC

Fortem Financial Group LLC trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 18.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,784 shares of the network equipment provider's stock after selling 10,081 shares during the quarter. Cisco Systems makes up approximately 1.1% of Fortem Financial Group LLC's holdings, making the stock its 28th biggest position. Fortem Financial Group LLC's holdings in Cisco Systems were worth $2,702,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CSCO. Brighton Jones LLC boosted its stake in Cisco Systems by 49.5% in the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock worth $4,392,000 after purchasing an additional 24,562 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Cisco Systems by 37.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock valued at $542,000 after acquiring an additional 2,474 shares during the last quarter. Proficio Capital Partners LLC boosted its position in shares of Cisco Systems by 76.4% during the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock valued at $1,003,000 after acquiring an additional 7,338 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Cisco Systems by 21.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 16,427 shares of the network equipment provider's stock valued at $972,000 after acquiring an additional 2,863 shares during the last quarter. Finally, Balboa Wealth Partners boosted its position in shares of Cisco Systems by 25.7% during the 4th quarter. Balboa Wealth Partners now owns 9,280 shares of the network equipment provider's stock valued at $549,000 after acquiring an additional 1,895 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other 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 value of $154,072.07. Following 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 15,678 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the sale, the chief financial officer owned 309,543 shares in the company, valued at $20,281,257.36. This represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,335 shares of company stock worth $6,271,054. Insiders own 0.01% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CSCO. Wall Street Zen downgraded Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. New Street Research restated a "neutral" rating and set a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Finally, Evercore ISI increased their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $69.53.

Cisco Systems Stock Down 1.2%

NASDAQ CSCO traded down $0.81 during trading on Friday, reaching $67.95. 14,698,247 shares of the company's stock traded hands, compared to its average volume of 20,363,229. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The firm has a market cap of $269.08 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 4.11 and a beta of 0.90. The company's 50 day simple moving average is $65.02 and its two-hundred day simple moving average is $61.81. 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 earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating 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 net margin of 17.60% and a return on equity of 26.48%. The company's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 EPS. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given 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 dividend payout ratio (DPR) is 66.94%.

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.