Cisco Systems, Inc. (NASDAQ:CSCO) is Minneapolis Portfolio Management Group LLC's 3rd Largest Position

Minneapolis Portfolio Management Group LLC lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 571,889 shares of the network equipment provider's stock after selling 7,009 shares during the quarter. Cisco Systems makes up about 4.9% of Minneapolis Portfolio Management Group LLC's investment portfolio, making the stock its 3rd largest holding. Minneapolis Portfolio Management Group LLC's holdings in Cisco Systems were worth $35,291,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSCO. Navigoe LLC purchased a new position in shares of Cisco Systems in the 4th quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC purchased a new position in Cisco Systems during the fourth quarter valued at $26,000. JDM Financial Group LLC lifted 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 valued at $29,000 after buying an additional 300 shares during the period. Runnymede Capital Advisors Inc. purchased a new position in Cisco Systems during the 4th quarter valued at about $30,000. Finally, Campbell Capital Management Inc. purchased a new position in Cisco Systems during the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Performance

CSCO stock traded down $0.34 during midday trading on Tuesday, reaching $68.59. 19,766,445 shares of the company's stock traded hands, compared to its average volume of 20,372,677. 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 cap of $271.62 billion, a P/E ratio of 28.00, a PEG ratio of 4.12 and a beta of 0.90. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.78. The stock's 50-day moving average is $64.18 and its 200 day moving average is $61.58.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. The business had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 earnings per share. As a group, analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors 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 is Thursday, July 3rd. Cisco Systems's dividend payout ratio is 66.94%.

Insider Transactions at Cisco Systems

In other news, insider Jeetendra I. Patel sold 899 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $64.27, for a total value of $57,778.73. Following the completion of the sale, the insider directly owned 255,377 shares of the company's stock, valued at $16,413,079.79. This represents a 0.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total value of $154,072.07. Following the completion of the sale, the executive vice president owned 177,027 shares of the company's stock, valued at $11,331,498.27. The trade was a 1.34% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,335 shares of company stock valued at $6,271,054. Company insiders own 0.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Evercore ISI lifted their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Wolfe Research started coverage on Cisco Systems in a research note on Tuesday. They set a "peer perform" rating for the company. JPMorgan Chase & Co. lifted their price objective on Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a "hold" rating to a "buy" rating and lifted their target price for the stock from $65.00 to $73.00 in a report on Monday, June 16th. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $69.53.

About Cisco Systems

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.