Lesa Sroufe & Co Takes Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Lesa Sroufe & Co bought a new stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,087 shares of the network equipment provider's stock, valued at approximately $252,000.

A number of other hedge funds have also recently added to or reduced their stakes in CSCO. Tallon Kerry Patrick acquired a new stake in Cisco Systems during the 4th quarter worth approximately $603,000. Brighton Jones LLC lifted its holdings in shares of Cisco Systems by 49.5% during the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock worth $4,392,000 after purchasing an additional 24,562 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Cisco Systems by 37.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock worth $542,000 after purchasing an additional 2,474 shares during the period. Congress Asset Management Co. lifted its holdings in Cisco Systems by 0.8% during the 4th quarter. Congress Asset Management Co. now owns 256,019 shares of the network equipment provider's stock worth $15,156,000 after buying an additional 1,992 shares during the period. Finally, Principal Securities Inc. lifted its holdings in Cisco Systems by 25.3% during the 4th quarter. Principal Securities Inc. now owns 63,921 shares of the network equipment provider's stock worth $3,784,000 after buying an additional 12,889 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the completion of the sale, the insider now owns 257,162 shares in the company, valued at approximately $16,450,653.14. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction 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 now owns 36,937 shares in the company, valued at $2,366,553.59. This trade represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,931 shares of company stock valued at $4,671,930 over the last ninety days. 0.01% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of recent analyst reports. Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and boosted their price target for the stock from $65.00 to $73.00 in a research report on Monday. Wall Street Zen upgraded shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Finally, Citigroup boosted their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems has a consensus rating of "Moderate Buy" and an average price target of $69.11.

Cisco Systems Price Performance

Shares of CSCO opened at $65.51 on Tuesday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The business's fifty day moving average is $60.72 and its 200 day moving average is $60.62. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The stock has a market cap of $259.42 billion, a P/E ratio of 28.61, a P/E/G ratio of 4.16 and a beta of 0.88.

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, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. The business's revenue was up 11.4% on a year-over-year basis. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.