Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 5.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 91,769 shares of the network equipment provider's stock after selling 5,439 shares during the quarter. MainStreet Investment Advisors LLC's holdings in Cisco Systems were worth $5,663,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CSCO. Brighton Jones LLC grew its stake in shares of Cisco Systems by 49.5% in the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock valued at $4,392,000 after purchasing an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Cisco Systems by 37.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock valued at $542,000 after buying an additional 2,474 shares during the last quarter. Proficio Capital Partners LLC increased its stake in Cisco Systems by 76.4% in the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock valued at $1,003,000 after buying an additional 7,338 shares during the period. Independent Advisor Alliance increased its stake in Cisco Systems by 41.0% in the 4th quarter. Independent Advisor Alliance now owns 103,155 shares of the network equipment provider's stock valued at $6,107,000 after buying an additional 29,972 shares during the period. Finally, Davis R M Inc. raised its position in Cisco Systems by 1.6% during the 4th quarter. Davis R M Inc. now owns 19,496 shares of the network equipment provider's stock worth $1,154,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CSCO shares. KeyCorp initiated coverage on shares of Cisco Systems in a research note on Thursday, June 26th. They set an "overweight" rating and a $77.00 price target on the stock. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a "hold" rating to a "buy" rating and boosted their target price for the stock from $65.00 to $73.00 in a research report on Monday, June 16th. Citigroup raised their price target on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Rosenblatt Securities lifted 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. Finally, Evercore ISI increased their price objective on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $69.53.

Cisco Systems Trading Down 0.7%

Shares of Cisco Systems stock traded down $0.51 during mid-day trading on Thursday, hitting $68.76. 14,970,647 shares of the stock were exchanged, compared to its average volume of 20,383,426. The company has a 50-day simple moving average of $64.63 and a 200 day simple moving average of $61.68. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $272.29 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 4.14 and a beta of 0.90. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The firm had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same period in the previous year, the company earned $0.88 EPS. Cisco Systems's revenue for the quarter was up 11.4% on a year-over-year basis. Research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is 66.94%.

Insider Buying and Selling at Cisco Systems

In related news, CEO Charles Robbins sold 29,784 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the completion of the sale, the chief executive officer directly owned 688,409 shares in the company, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of Cisco Systems stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the transaction, the chief financial officer owned 309,543 shares in the company, valued at approximately $20,281,257.36. This trade represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is currently owned by insiders.

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.