Hoertkorn Richard Charles Decreases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Hoertkorn Richard Charles lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 7.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,637 shares of the network equipment provider's stock after selling 4,700 shares during the quarter. Cisco Systems makes up approximately 1.6% of Hoertkorn Richard Charles' investment portfolio, making the stock its 19th largest position. Hoertkorn Richard Charles' holdings in Cisco Systems were worth $3,495,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. FMR LLC increased its stake in shares of 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 buying an additional 13,285,052 shares during the period. Norges Bank acquired a new position in shares of Cisco Systems in the fourth quarter valued at approximately $3,297,905,000. Northern Trust Corp increased its stake in shares of Cisco Systems by 11.4% in the fourth quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock valued at $2,796,505,000 after buying an additional 4,832,813 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Cisco Systems by 7.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider's stock valued at $2,159,099,000 after buying an additional 2,637,006 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Cisco Systems by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider's stock valued at $1,741,597,000 after buying an additional 681,555 shares during the period. Institutional investors own 73.33% of the company's stock.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the business's stock in a transaction on 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 sale, the chief executive officer now owns 688,409 shares in the company, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total transaction of $571,902.04. Following the sale, the executive vice president now owns 174,669 shares of the company's stock, valued at $11,447,806.26. This trade represents a 4.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Trading Down 0.4%

Shares of NASDAQ:CSCO traded down $0.30 during mid-day trading on Friday, hitting $68.65. The company had a trading volume of 26,213,514 shares, compared to its average volume of 20,235,237. The firm has a fifty day moving average price of $62.57 and a 200 day moving average price of $61.10. The company has a market capitalization of $271.85 billion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 4.10 and a beta of 0.88. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.22.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. Cisco Systems's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 EPS. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

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

Analysts Set New Price Targets

CSCO has been the subject of a number of recent analyst reports. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. New Street Research reissued a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Citigroup increased their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, Wall Street Zen raised shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and an average price target of $69.53.

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.