Monte Financial Group LLC Sells 6,643 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Monte Financial Group LLC lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 5.8% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 107,466 shares of the network equipment provider's stock after selling 6,643 shares during the quarter. Cisco Systems comprises about 2.7% of Monte Financial Group LLC's portfolio, making the stock its 8th largest position. Monte Financial Group LLC's holdings in Cisco Systems were worth $6,632,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSCO. FPC Investment Advisory Inc. acquired a new position in shares of Cisco Systems in the 4th quarter valued at about $26,000. Navigoe LLC acquired a new position in shares of Cisco Systems in the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Cisco Systems in the 4th quarter valued at about $26,000. JDM Financial Group LLC lifted its holdings in shares of Cisco Systems by 160.4% in the 4th 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. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Cisco Systems in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 73.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CSCO shares. Rosenblatt Securities boosted their price objective on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $72.00 to $75.00 in a report on Thursday, May 15th. Wall Street Zen raised Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Deutsche Bank Aktiengesellschaft raised Cisco Systems from a "hold" rating to a "buy" rating and upped their price target for the stock from $65.00 to $73.00 in a report on Monday, June 16th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $69.11.

Insider Activity

In related news, CFO Richard Scott Herren sold 15,678 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the transaction, the chief financial officer now directly owns 309,543 shares in the company, valued at approximately $20,281,257.36. This represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the completion of the transaction, the executive vice president now owns 174,669 shares of the company's stock, valued at $11,447,806.26. The trade was a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock worth $6,271,054 over the last ninety days. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Price Performance

Shares of CSCO stock traded up $0.48 during trading hours on Friday, reaching $66.32. The company had a trading volume of 50,354,241 shares, compared to its average volume of 20,096,309. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The stock has a fifty day moving average of $61.38 and a 200-day moving average of $60.79. The company has a market capitalization of $262.63 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 3.97 and a beta of 0.88. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.65.

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

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given 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 dividend yield of 2.47%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

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.