Minneapolis Portfolio Management Group LLC trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 571,889 shares of the network equipment provider's stock after selling 7,009 shares during the quarter. Cisco Systems accounts for approximately 4.9% of Minneapolis Portfolio Management Group LLC's portfolio, making the stock its 3rd largest holding. Minneapolis Portfolio Management Group LLC's holdings in Cisco Systems were worth $35,291,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CSCO. Navigoe LLC bought a new stake in Cisco Systems in the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Cisco Systems in the 4th quarter worth approximately $26,000. JDM Financial Group LLC lifted its stake in Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after purchasing an additional 300 shares during the last quarter. Runnymede Capital Advisors Inc. bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $30,000. Finally, Campbell Capital Management Inc. bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 73.33% of the company's stock.
Insider Activity
In other Cisco Systems news, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems 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 completion of the transaction, the insider directly owned 257,162 shares of the company's stock, valued at $16,450,653.14. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 15,678 shares of Cisco Systems stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the transaction, the chief financial officer directly owned 309,543 shares of the company's stock, valued at approximately $20,281,257.36. This represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock valued at $6,271,054 in the last quarter. Company insiders own 0.01% of the company's stock.
Cisco Systems Stock Performance
Shares of Cisco Systems stock traded up $0.68 during trading hours on Wednesday, reaching $69.27. 11,999,803 shares of the stock traded hands, compared to its average volume of 20,385,156. The company has a 50 day moving average price of $64.40 and a 200 day moving average price of $61.63. The firm has a market capitalization of $274.31 billion, a price-to-earnings ratio of 28.27, a P/E/G ratio of 4.12 and a beta of 0.90. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating 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 company had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same period in the previous year, the business posted $0.88 earnings per share. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal 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 paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.37%. Cisco Systems's payout ratio is 66.94%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on CSCO shares. Wolfe Research began coverage on shares of Cisco Systems in a report on Tuesday. They set a "peer perform" rating for the company. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $72.00 to $75.00 in a report on Thursday, May 15th. Barclays restated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Citigroup increased their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and an average target price of $69.53.
View Our Latest Analysis on CSCO
Cisco Systems Profile
(
Free Report)
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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