Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Heritage Investors Management Corp

Heritage Investors Management Corp reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 669,492 shares of the network equipment provider's stock after selling 9,421 shares during the quarter. Cisco Systems comprises approximately 1.4% of Heritage Investors Management Corp's investment portfolio, making the stock its 17th largest position. Heritage Investors Management Corp's holdings in Cisco Systems were worth $41,314,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CSCO. Kornitzer Capital Management Inc. KS boosted its holdings in Cisco Systems by 0.7% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 892,064 shares of the network equipment provider's stock valued at $55,049,000 after acquiring an additional 6,501 shares during the period. Golden State Wealth Management LLC raised its position in shares of Cisco Systems by 10.8% during the 1st quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider's stock worth $389,000 after acquiring an additional 612 shares in the last quarter. Proficio Capital Partners LLC raised 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 worth $1,003,000 after acquiring an additional 7,338 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Cisco Systems by 28.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider's stock worth $249,180,000 after acquiring an additional 904,548 shares in the last quarter. Finally, Investment Management Corp of Ontario raised its position in shares of Cisco Systems by 44.6% during the 4th quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock worth $11,454,000 after acquiring an additional 59,680 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Price Performance

Cisco Systems stock traded down $0.18 during trading hours on Tuesday, hitting $68.16. The stock had a trading volume of 8,761,040 shares, compared to its average volume of 20,237,062. 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 stock has a market capitalization of $269.93 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 4.07 and a beta of 0.90. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $69.78. The stock's fifty day moving average is $65.84 and its two-hundred day moving average is $62.13.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data 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 analyst estimates 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 for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 earnings per share. As a group, analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is currently 66.94%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,726 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the sale, the executive vice president directly owned 174,669 shares of the company's stock, valued at approximately $11,447,806.26. This trade represents a 4.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total value of $154,072.07. Following the completion of the sale, the executive vice president directly owned 177,027 shares in the company, valued at approximately $11,331,498.27. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several research analyst reports. Wall Street Zen lowered Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. KeyCorp initiated coverage on Cisco Systems in a research report on Thursday, June 26th. They set an "overweight" rating and a $77.00 price target on the stock. New Street Research reaffirmed a "neutral" rating and set a $70.00 price target on shares of Cisco Systems in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a "hold" rating to a "buy" rating and lifted their price target for the stock from $65.00 to $73.00 in a research report on Monday, June 16th. Finally, Evercore ISI lifted their price target on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $70.35.

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.