Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,494,091 shares of the network equipment provider's stock after selling 111,000 shares during the period. Cisco Systems comprises 0.7% of Mn Services Vermogensbeheer B.V.'s portfolio, making the stock its 23rd largest holding. Mn Services Vermogensbeheer B.V.'s holdings in Cisco Systems were worth $92,200,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $26,000. Navigoe LLC acquired a new position in shares of Cisco Systems in the fourth quarter worth $26,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Cisco Systems in the fourth quarter worth $26,000. JDM Financial Group LLC boosted its stake 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 acquiring an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Cisco Systems during the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Trading Down 1.6%

CSCO stock traded down $1.01 during midday trading on Friday, reaching $64.09. 14,630,776 shares of the company's stock traded hands, compared to its average volume of 20,161,810. The business has a 50-day moving average price of $60.47 and a two-hundred day moving average price of $60.57. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The company has a market capitalization of $253.80 billion, a P/E ratio of 27.99, a PEG ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly 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. The firm had revenue of $14.15 billion for 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 for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 EPS. Equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.56%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Insiders Place Their Bets

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the transaction, the chief executive officer now directly owns 688,409 shares in the company, valued at $44,478,105.49. This represents a 4.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeetendra I. Patel sold 9,961 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the sale, the insider now owns 257,162 shares in the company, valued at $16,450,653.14. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,931 shares of company stock worth $4,671,930 in the last three months. 0.01% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on CSCO. Rosenblatt Securities upped their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. DZ Bank raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. lifted their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Citigroup increased their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Wall Street Zen raised Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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.