Jupiter Asset Management Ltd. Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Jupiter Asset Management Ltd. reduced its stake in Cisco Systems by 14.5%, selling 10,287 shares during the first quarter, leaving it with 60,742 shares valued at approximately $3.75 million.
• Insider trading reports highlighted that EVP Deborah L. Stahlkopf and another insider both sold significant portions of their stock in a single day, decreasing their holdings by around 5.05% and 3.73%, respectively.
• Cisco Systems recently announced a $0.41 quarterly dividend, reflecting a 2.4% yield and a payout ratio of 66.94%, with dividend payments made on July 23rd.

Jupiter Asset Management Ltd. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 14.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,742 shares of the network equipment provider's stock after selling 10,287 shares during the quarter. Jupiter Asset Management Ltd.'s holdings in Cisco Systems were worth $3,748,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Glass Jacobson Investment Advisors llc increased its holdings in Cisco Systems by 8.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock valued at $123,000 after buying an additional 166 shares during the period. Legacy Financial Group Inc. increased its holdings in Cisco Systems by 3.4% during the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock valued at $302,000 after buying an additional 169 shares during the period. Capital Advantage Inc. increased its holdings in Cisco Systems by 1.0% during the fourth quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider's stock valued at $1,028,000 after buying an additional 172 shares during the period. Wealthstream Advisors Inc. increased its holdings in Cisco Systems by 5.5% during the first quarter. Wealthstream Advisors Inc. now owns 3,687 shares of the network equipment provider's stock valued at $228,000 after buying an additional 191 shares during the period. Finally, EdgeRock Capital LLC increased its holdings in Cisco Systems by 3.9% during the first quarter. EdgeRock Capital LLC now owns 5,232 shares of the network equipment provider's stock valued at $323,000 after buying an additional 197 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 9,643 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the transaction, the executive vice president directly owned 181,186 shares in the company, valued at $11,505,311. The trade was a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeetendra I. Patel sold 9,961 shares of the business's stock in a transaction on 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 owned 257,162 shares of the company's stock, valued at $16,450,653.14. This represents a 3.73% 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 valued at $6,271,054 over the last ninety days. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Trading Down 1.4%

NASDAQ:CSCO opened at $67.11 on Monday. The company has a market capitalization of $265.76 billion, a P/E ratio of 27.39, a PEG ratio of 3.76 and a beta of 0.91. The firm has a fifty day simple moving average of $66.87 and a 200-day simple moving average of $62.76. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.78. 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 posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The firm's quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 earnings per share. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were given a dividend of $0.41 per share. The ex-dividend date was Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.4%. Cisco Systems's payout ratio is currently 66.94%.

Analyst Ratings Changes

CSCO has been the subject of several recent analyst reports. Wolfe Research initiated coverage on shares of Cisco Systems in a research note on Tuesday, July 8th. They issued a "peer perform" rating for the company. KeyCorp initiated coverage on shares of Cisco Systems in a research note on Thursday, June 26th. They issued an "overweight" rating and a $77.00 target price for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and raised their target price for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Rosenblatt Securities raised their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, Morgan Stanley raised their target price on shares of Cisco Systems from $67.00 to $70.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Eight 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 company's stock. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of "Moderate Buy" and a consensus target price of $70.35.

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.

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