Lmcg Investments LLC Reduces Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Lmcg Investments LLC lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 15.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 96,001 shares of the network equipment provider's stock after selling 18,151 shares during the quarter. Lmcg Investments LLC's holdings in Cisco Systems were worth $5,924,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CSCO. FPC Investment Advisory Inc. purchased a new stake in Cisco Systems in the fourth quarter worth $26,000. Navigoe LLC purchased a new stake in shares of Cisco Systems during the fourth quarter valued at $26,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Cisco Systems during the fourth quarter valued at $26,000. JDM Financial Group LLC boosted its position in shares of Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after buying an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Cisco Systems during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 4,185 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total value of $265,789.35. Following the transaction, the senior vice president now owns 38,103 shares in the company, valued at approximately $2,419,921.53. This trade represents a 9.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,616 shares of company stock valued at $2,640,095. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Stock Up 0.4%

NASDAQ CSCO traded up $0.23 on Thursday, reaching $64.62. 17,001,251 shares of the stock traded hands, compared to its average volume of 20,113,978. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The company has a fifty day moving average price of $59.47 and a 200-day moving average price of $60.22. The company has a market cap of $255.90 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 4.16 and a beta of 0.88. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results 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. The business had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Cisco Systems's revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 EPS. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

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 given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.

Analysts Set New Price Targets

Several research analysts have recently commented on CSCO shares. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Evercore ISI raised their price target on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. lifted their target price on Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Finally, Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $68.00.

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.