Heritage Investors Management Corp Sells 9,421 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Heritage Investors Management Corp lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 1.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 669,492 shares of the network equipment provider's stock after selling 9,421 shares during the quarter. Cisco Systems comprises 1.4% of Heritage Investors Management Corp's portfolio, making the stock its 17th biggest holding. Heritage Investors Management Corp's holdings in Cisco Systems were worth $41,314,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CSCO. Navigoe LLC acquired a new position in Cisco Systems in the 4th quarter worth about $26,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Cisco Systems during the 4th quarter worth approximately $26,000. JDM Financial Group LLC raised its holdings in 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 acquiring an additional 300 shares during the last quarter. Runnymede Capital Advisors Inc. purchased a new stake in Cisco Systems during the 4th quarter worth $30,000. Finally, Fairway Wealth LLC boosted its position in Cisco Systems by 224.7% in the 1st 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. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Performance

Shares of CSCO stock traded up $0.35 on Wednesday, hitting $68.51. The company's stock had a trading volume of 5,083,540 shares, compared to its average volume of 20,200,030. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The stock's 50 day moving average is $65.84 and its 200-day moving average is $62.13. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $69.78. The company has a market capitalization of $271.32 billion, a PE ratio of 27.99, a PEG ratio of 4.09 and a beta of 0.90.

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. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same period last year, the company posted $0.88 EPS. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. Equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.39%. Cisco Systems's payout ratio is 66.94%.

Insider Buying and Selling

In other news, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the sale, the insider directly owned 257,162 shares of the company's stock, valued at approximately $16,450,653.14. This represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Oliver Tuszik sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total transaction of $952,950.00. Following the completion of the transaction, the executive vice president owned 131,676 shares in the company, valued at $8,365,376.28. This represents a 10.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock worth $6,271,054 in the last ninety days. Corporate insiders own 0.01% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CSCO shares. Citigroup increased their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. upped their price target on shares of Cisco Systems from $73.00 to $78.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. New Street Research reiterated a "neutral" rating and issued a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, KeyCorp assumed coverage on shares of Cisco Systems in a report on Thursday, June 26th. They set an "overweight" rating and a $77.00 price target on the stock. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Cisco Systems presently has an average rating of "Moderate Buy" and a consensus target price 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.