Moors & Cabot Inc. Sells 9,112 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Moors & Cabot Inc. reduced its stake in Cisco Systems, Inc. by 7.7%, selling 9,112 shares during the first quarter, but still holds 109,632 shares valued at approximately $6.77 million.
• Cisco reported better-than-expected earnings with $0.96 EPS and revenue of $14.15 billion, exceeding analyst predictions for both metrics.
• The company declared a quarterly dividend of $0.41 per share, representing an annualized dividend yield of 2.4%.

Moors & Cabot Inc. reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 7.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,632 shares of the network equipment provider's stock after selling 9,112 shares during the quarter. Moors & Cabot Inc.'s holdings in Cisco Systems were worth $6,765,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Navigoe LLC bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC bought a new position in Cisco Systems in the 4th quarter valued at about $26,000. JDM Financial Group LLC grew its position in shares of 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 in the last quarter. Fairway Wealth LLC grew its position in shares of 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 in the last quarter. Finally, Investment Management Corp VA ADV boosted its position in shares of Cisco Systems by 145.3% during the 1st quarter. Investment Management Corp VA ADV now owns 596 shares of the network equipment provider's stock worth $37,000 after acquiring an additional 353 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $68.08 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The firm has a market cap of $269.60 billion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 4.08 and a beta of 0.90. The company has a 50 day moving average price of $66.79 and a 200-day moving average price of $62.66. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $69.78.

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, topping the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion for 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 quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter 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 year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.41 per share. The ex-dividend date was Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.4%. Cisco Systems's dividend payout ratio is 66.94%.

Insider Activity at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 8,726 shares of Cisco Systems stock in a transaction that occurred on Tuesday, June 17th. The shares were 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 owned 174,669 shares in the company, valued at $11,447,806.26. The trade was a 4.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeetendra I. Patel sold 899 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $64.27, for a total transaction of $57,778.73. Following the completion of the sale, the insider directly owned 255,377 shares in the company, valued at approximately $16,413,079.79. This represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on CSCO shares. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and raised their target price for the company from $65.00 to $73.00 in a research report on Monday, June 16th. CICC Research started coverage on shares of Cisco Systems in a research note on Monday, July 14th. They set an "outperform" rating and a $78.00 target price for the company. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. KeyCorp began coverage on shares of Cisco Systems in a research note on Thursday, June 26th. They issued an "overweight" rating and a $77.00 price target for the company. Finally, Morgan Stanley boosted their target price on shares of Cisco Systems from $67.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Eight investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems presently has an average rating of "Moderate Buy" and an average price target of $70.35.

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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