Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Integrated Investment Consultants LLC

Key Points

• Integrated Investment Consultants LLC reduced its holdings in Cisco Systems by 67.4%, selling 76,722 shares and leaving it with 37,184 shares worth approximately $2.3 million.
• Several large investors, including FMR LLC and Northern Trust Corp, increased their positions in Cisco during the previous quarter, indicating strong institutional interest in the stock.
• Cisco Systems reported earnings per share of $0.96 for the quarter, surpassing estimates of $0.92, with revenue of $14.15 billion, a growth of 11.4% compared to the prior year.

Integrated Investment Consultants LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 67.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,184 shares of the network equipment provider's stock after selling 76,722 shares during the quarter. Integrated Investment Consultants LLC's holdings in Cisco Systems were worth $2,295,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CSCO. Navigoe LLC purchased a new stake in shares of Cisco Systems in the fourth quarter worth $26,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Cisco Systems in the 4th quarter valued at about $26,000. JDM Financial Group LLC boosted its position in shares of Cisco Systems by 160.4% during 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. Fairway Wealth LLC boosted its position in shares of Cisco Systems by 224.7% during the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock valued at $36,000 after acquiring an additional 400 shares during the last quarter. Finally, Accredited Wealth Management LLC bought a new position in shares of Cisco Systems in the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 15,678 shares of Cisco Systems stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the sale, the chief financial officer directly owned 309,543 shares of the company's stock, valued at $20,281,257.36. The trade was a 4.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Victoria Wong sold 762 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total value of $48,821.34. Following the sale, the senior vice president owned 36,937 shares of the company's stock, valued at approximately $2,366,553.59. The trade was a 2.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock worth $6,271,054 in the last three months. Company insiders own 0.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CSCO. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. KeyCorp started coverage on Cisco Systems in a report on Thursday, June 26th. They set an "overweight" rating and a $77.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised shares of 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 note on Monday, June 16th. Finally, Rosenblatt Securities boosted their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Cisco Systems has a consensus rating of "Moderate Buy" and a consensus price target of $70.35.

Cisco Systems Stock Down 1.1%

Cisco Systems stock traded down $0.77 during trading hours on Monday, reaching $67.92. The stock had a trading volume of 20,553,036 shares, compared to its average volume of 16,861,672. 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 company has a market cap of $268.96 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 4.11 and a beta of 0.90. The business's 50 day moving average price is $66.43 and its 200-day moving average price is $62.46. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data 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 return on equity of 26.48% and a net margin of 17.60%. The business had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same quarter last year, the business posted $0.88 EPS. The company's revenue was up 11.4% on a year-over-year basis. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend was Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

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.