Foundation Resource Management Inc. Trims Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Foundation Resource Management Inc. cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 139,823 shares of the network equipment provider's stock after selling 4,918 shares during the quarter. Cisco Systems accounts for 1.4% of Foundation Resource Management Inc.'s investment portfolio, making the stock its 25th largest position. Foundation Resource Management Inc.'s holdings in Cisco Systems were worth $8,628,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems in the fourth quarter worth approximately $26,000. Navigoe LLC acquired a new position in shares of Cisco Systems in the 4th quarter valued at $26,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Cisco Systems in the 4th quarter valued at $26,000. JDM Financial Group LLC raised its holdings in shares of Cisco Systems by 160.4% in the 4th 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. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Cisco Systems in the 4th quarter valued at $30,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the sale, the executive vice president now owns 191,184 shares in the company, valued at $11,604,868.80. This trade represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles Robbins sold 29,784 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the sale, the chief executive officer now owns 688,409 shares in the company, valued at $44,478,105.49. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,400 shares of company stock valued at $4,564,439. Corporate insiders own 0.01% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CSCO shares. Citigroup boosted their price objective on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Rosenblatt Securities upped their price objective on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Evercore ISI upped their price objective on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. New Street Research reissued a "neutral" rating and issued a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Finally, DZ Bank raised Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.00.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $66.06 on Monday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The company has a market capitalization of $261.60 billion, a P/E ratio of 28.85, a PEG ratio of 4.16 and a beta of 0.88. The business has a 50 day moving average price of $59.61 and a 200 day moving average price of $60.38. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same period last year, the business posted $0.88 EPS. Cisco Systems's quarterly revenue was up 11.4% on a year-over-year basis. Sell-side analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Cisco Systems Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio 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.

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