J2 Capital Management Inc Sells 4,019 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

J2 Capital Management Inc lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 43.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,238 shares of the network equipment provider's stock after selling 4,019 shares during the period. J2 Capital Management Inc's holdings in Cisco Systems were worth $323,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FPC Investment Advisory Inc. bought a new stake in Cisco Systems during the 4th quarter worth about $26,000. Navigoe LLC acquired a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC bought a new position in shares of Cisco Systems in the fourth quarter valued at $26,000. JDM Financial Group LLC boosted its position in Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after purchasing an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Cisco Systems in the fourth quarter valued at about $30,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now directly owns 191,184 shares in the company, valued at $11,604,868.80. The trade was a 1.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeetendra I. Patel sold 9,961 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the transaction, the insider now directly owns 257,162 shares of the company's stock, valued at $16,450,653.14. This represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,616 shares of company stock worth $2,640,095 over the last ninety days. Company insiders own 0.01% of the company's stock.

Cisco Systems Trading Up 1.3%

Shares of CSCO traded up $0.81 during midday trading on Monday, hitting $63.85. 15,808,035 shares of the stock were exchanged, compared to its average volume of 20,226,779. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The stock has a fifty day simple moving average of $59.30 and a 200 day simple moving average of $60.12. The firm has a market cap of $252.85 billion, a P/E ratio of 27.88, a P/E/G ratio of 4.16 and a beta of 0.89. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87.

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, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 EPS. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.57%. Cisco Systems's payout ratio is currently 66.94%.

Analysts Set New Price Targets

CSCO has been the subject of a number of analyst reports. Rosenblatt Securities boosted their price target on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. New Street Research reiterated a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. JPMorgan Chase & Co. upped their target price on Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Wells Fargo & Company upgraded 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. Finally, Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.00.

Cisco Systems 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.