Impax Asset Management Group plc cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 11.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 147,136 shares of the network equipment provider's stock after selling 18,744 shares during the quarter. Impax Asset Management Group plc's holdings in Cisco Systems were worth $9,080,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Proficio Capital Partners LLC boosted its holdings in Cisco Systems by 76.4% in the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock worth $1,003,000 after buying an additional 7,338 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Cisco Systems by 28.9% in the first 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 during the period. Investment Management Corp of Ontario boosted its stake in shares of Cisco Systems by 44.6% in the fourth 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 during the period. AlTi Global Inc. boosted its stake in Cisco Systems by 49.8% in the 4th quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider's stock worth $1,217,000 after purchasing an additional 6,811 shares during the period. Finally, Investor s Fiduciary Advisor Network LLC bought a new position in Cisco Systems in the 4th quarter worth approximately $1,063,000. 73.33% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts have weighed in on CSCO shares. Citigroup upped their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Morgan Stanley reissued a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Rosenblatt Securities increased their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, Evercore ISI increased their price target on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of "Moderate Buy" and a consensus target price of $69.53.
Read Our Latest Stock Report on Cisco Systems
Cisco Systems Trading Up 1.5%
NASDAQ CSCO traded up $1.05 during trading on Friday, hitting $69.64. The stock had a trading volume of 17,973,495 shares, compared to its average volume of 20,350,689. 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 has a market capitalization of $275.77 billion, a price-to-earnings ratio of 28.42, a P/E/G ratio of 4.15 and a beta of 0.90. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78. The stock has a 50 day simple moving average of $63.93 and a 200 day simple moving average of $61.48.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same period last year, the company earned $0.88 EPS. Cisco Systems's quarterly revenue was up 11.4% compared to the same quarter last year. Sell-side analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.
Cisco Systems Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio is presently 66.94%.
Insider Buying and Selling at Cisco Systems
In related news, EVP Thimaya K. Subaiya sold 8,726 shares of Cisco Systems 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 completion of the sale, the executive vice president directly owned 174,669 shares in the company, valued at $11,447,806.26. The trade was a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jeetendra I. Patel sold 899 shares of Cisco Systems stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $64.27, for a total value of $57,778.73. Following the completion of the sale, the insider owned 255,377 shares of the company's stock, valued at $16,413,079.79. The trade was a 0.35% 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. Insiders own 0.01% of the company's stock.
Cisco Systems Company Profile
(
Free Report)
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.
Recommended Stories

Before you consider Cisco Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cisco Systems wasn't on the list.
While Cisco Systems currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report