Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Greenwood Gearhart Inc.

Greenwood Gearhart Inc. lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 46.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,350 shares of the network equipment provider's stock after selling 4,566 shares during the quarter. Greenwood Gearhart Inc.'s holdings in Cisco Systems were worth $330,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Norges Bank acquired a new stake in Cisco Systems in the fourth quarter valued at approximately $3,297,905,000. FMR LLC raised its holdings in Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock valued at $4,571,218,000 after acquiring an additional 13,285,052 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in Cisco Systems in the fourth quarter valued at approximately $413,491,000. GAMMA Investing LLC raised its holdings in Cisco Systems by 7,096.5% in the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock valued at $414,593,000 after acquiring an additional 6,625,045 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in Cisco Systems by 187.9% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider's stock valued at $442,749,000 after acquiring an additional 4,880,747 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 29,784 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the transaction, the chief executive officer owned 688,409 shares of the company's stock, valued at $44,478,105.49. This represents a 4.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Oliver Tuszik sold 15,000 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the transaction, the executive vice president directly owned 131,676 shares of the company's stock, valued at approximately $8,365,376.28. This represents a 10.23% 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 worth $6,271,054 in the last ninety days. Company insiders own 0.01% of the company's stock.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO traded down $0.30 during midday trading on Thursday, hitting $68.32. 8,969,465 shares of the stock were exchanged, compared to its average volume of 21,357,197. The stock has a market cap of $270.54 billion, a P/E ratio of 27.88, a PEG ratio of 4.08 and a beta of 0.90. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78. The company has a 50 day moving average price of $66.24 and a 200-day moving average price of $62.28.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. The business had revenue of $14.15 billion during 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 business's revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 EPS. On average, research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of Cisco Systems in a report on Tuesday, July 8th. They issued a "peer perform" rating on the stock. Evercore ISI increased their price target 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. Deutsche Bank Aktiengesellschaft upgraded shares of 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. Barclays restated an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, Morgan Stanley raised their target price on shares of Cisco Systems from $67.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $70.35.

Cisco Systems 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.