Moran Wealth Management LLC Has $19.88 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Moran Wealth Management LLC reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 39.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 322,181 shares of the network equipment provider's stock after selling 210,490 shares during the period. Moran Wealth Management LLC's holdings in Cisco Systems were worth $19,882,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Navigoe LLC bought a new stake in Cisco Systems in the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $26,000. JDM Financial Group LLC raised its holdings 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 buying an additional 300 shares during the last quarter. Runnymede Capital Advisors Inc. bought a new position in Cisco Systems in the 4th quarter worth approximately $30,000. Finally, Campbell Capital Management Inc. acquired a new stake in Cisco Systems in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 4,185 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total transaction of $265,789.35. Following the completion of the transaction, the senior vice president now directly owns 38,103 shares in the company, valued at $2,419,921.53. This represents a 9.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the business's stock in a transaction 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 completion of the sale, the executive vice president now owns 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 sold a total of 97,335 shares of company stock valued at $6,271,054 over the last ninety days. 0.01% of the stock is owned by company insiders.

Analyst Ratings Changes

CSCO has been the subject of several recent analyst reports. Evercore ISI increased their price target on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. Morgan Stanley reissued a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Citigroup upped 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, Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $69.11.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded up $0.51 during midday trading on Tuesday, hitting $67.89. The company's stock had a trading volume of 22,951,955 shares, compared to its average volume of 20,164,011. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $68.02. 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 market capitalization of $268.84 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 3.97 and a beta of 0.88. The stock's 50 day simple moving average is $61.58 and its 200 day simple moving average is $60.85.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued 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. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the previous year, the business posted $0.88 EPS. The company's revenue for the quarter was up 11.4% on a year-over-year basis. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors 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 dividend on an annualized basis and a dividend yield of 2.42%. Cisco Systems's payout ratio is 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.