Highland Capital Management LLC Has $10.64 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Highland Capital Management LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,340 shares of the network equipment provider's stock after selling 3,731 shares during the quarter. Highland Capital Management LLC's holdings in Cisco Systems were worth $10,635,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CSCO. Glass Jacobson Investment Advisors llc grew its holdings in shares of Cisco Systems by 8.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock valued at $123,000 after acquiring an additional 166 shares in the last quarter. BlackDiamond Wealth Management LLC grew its holdings in shares of Cisco Systems by 3.1% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock valued at $335,000 after acquiring an additional 168 shares in the last quarter. Legacy Financial Group Inc. grew its holdings in shares of Cisco Systems by 3.4% in the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock valued at $302,000 after acquiring an additional 169 shares in the last quarter. Maple Capital Management Inc. grew its holdings in shares of Cisco Systems by 1.4% in the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider's stock valued at $709,000 after acquiring an additional 170 shares in the last quarter. Finally, Capital Advantage Inc. grew its holdings in shares of Cisco Systems by 1.0% in the 4th quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider's stock valued at $1,028,000 after acquiring an additional 172 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded down $0.30 during trading on Friday, reaching $68.65. 26,213,514 shares of the stock were exchanged, compared to its average volume of 20,235,237. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.22. The firm has a market cap of $271.85 billion, a PE ratio of 28.02, a PEG ratio of 4.10 and a beta of 0.88. The stock has a 50-day moving average price of $62.57 and a 200-day moving average price of $61.10. 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 (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. The business's revenue was up 11.4% on a year-over-year basis. Research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

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

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 8,726 shares of Cisco Systems stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total value of $571,902.04. Following the completion of the sale, the executive vice president now directly owns 174,669 shares in the company, valued at approximately $11,447,806.26. The trade was a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total transaction of $48,821.34. Following the completion of the sale, the senior vice president now owns 36,937 shares of the company's stock, valued at approximately $2,366,553.59. The trade was a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock worth $6,271,054 over the last quarter. Company insiders own 0.01% of the company's stock.

Analyst Ratings Changes

CSCO has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price objective on Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a "hold" rating to a "buy" rating and raised their price objective for the company from $65.00 to $73.00 in a report on Monday, June 16th. Rosenblatt Securities raised their price objective on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, Cisco Systems presently has an average rating of "Moderate Buy" and a consensus price target of $69.53.

About Cisco Systems

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.