Montag A & Associates Inc. Decreases Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Montag A & Associates Inc. lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 115,782 shares of the network equipment provider's stock after selling 3,777 shares during the period. Montag A & Associates Inc.'s holdings in Cisco Systems were worth $7,145,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Navigoe LLC acquired a new position in Cisco Systems in the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC acquired a new position in Cisco Systems in the 4th quarter valued at about $26,000. JDM Financial Group LLC increased its position in Cisco Systems by 160.4% during the 4th 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 period. Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems during the 4th quarter worth approximately $30,000. Finally, Fairway Wealth LLC increased its position in Cisco Systems by 224.7% during the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock worth $36,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Wall Street Analyst Weigh In

CSCO has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on Cisco Systems from $67.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday. KeyCorp assumed coverage on Cisco Systems in a research report on Thursday, June 26th. They set an "overweight" rating and a $77.00 target price on the stock. Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. New Street Research reissued a "neutral" rating and set a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. Finally, Citigroup boosted 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. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $70.35.

Insider Transactions at Cisco Systems

In other Cisco Systems news, insider Jeetendra I. Patel sold 9,961 shares of the firm'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 owned 257,162 shares in the company, valued at approximately $16,450,653.14. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.50, for a total transaction of $612,330.50. Following the transaction, the executive vice president owned 181,186 shares in the company, valued at $11,505,311. This represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock valued at $6,271,054 over the last ninety days. Insiders own 0.01% of the company's stock.

Cisco Systems Stock Down 0.4%

Shares of NASDAQ CSCO opened at $68.05 on Friday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $69.78. The company has a market cap of $269.48 billion, a P/E ratio of 27.78, a P/E/G ratio of 4.07 and a beta of 0.90. 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 fifty day moving average price of $65.84 and a 200 day moving average price of $62.11.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The firm's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 EPS. Research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced 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. 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 2.41%. Cisco Systems's dividend payout ratio is currently 66.94%.

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.

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