New Age Alpha Advisors LLC Sells 56,585 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

New Age Alpha Advisors LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 25.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 168,933 shares of the network equipment provider's stock after selling 56,585 shares during the quarter. New Age Alpha Advisors LLC's holdings in Cisco Systems were worth $10,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Kornitzer Capital Management Inc. KS raised its holdings in Cisco Systems by 0.7% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 892,064 shares of the network equipment provider's stock valued at $55,049,000 after buying an additional 6,501 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in Cisco Systems by 10.8% during the 1st quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider's stock valued at $389,000 after buying an additional 612 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Cisco Systems by 28.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider's stock valued at $249,180,000 after buying an additional 904,548 shares during the last quarter. Investment Management Corp of Ontario raised its holdings in Cisco Systems by 44.6% during the 4th quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock valued at $11,454,000 after buying an additional 59,680 shares during the last quarter. Finally, IFP Advisors Inc raised its holdings in Cisco Systems by 2.6% during the 1st quarter. IFP Advisors Inc now owns 111,510 shares of the network equipment provider's stock valued at $6,882,000 after buying an additional 2,839 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $68.49 on Tuesday. The stock has a market cap of $271.22 billion, a price-to-earnings ratio of 27.96, a PEG ratio of 3.76 and a beta of 0.91. The firm's 50-day moving average is $66.98 and its 200 day moving average is $62.81. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $69.78. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. Cisco Systems's revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 EPS. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were paid a $0.41 dividend. 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 payout ratio is presently 66.94%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wolfe Research initiated coverage on shares of Cisco Systems in a report on Tuesday, July 8th. They set a "peer perform" rating for the company. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a "hold" rating to a "buy" rating and boosted their price objective for the company from $65.00 to $73.00 in a research report on Monday, June 16th. Wall Street Zen downgraded shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Citigroup boosted their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, Wells Fargo & Company raised shares of 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 research report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $70.35.

Insider Buying and Selling

In other Cisco Systems news, EVP Oliver Tuszik sold 15,000 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the transaction, the executive vice president owned 131,676 shares in the company, valued at approximately $8,365,376.28. This represents a 10.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeetendra I. Patel sold 9,961 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the transaction, the insider owned 257,162 shares in the company, valued at $16,450,653.14. This represents a 3.73% 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 worth $6,271,054 over the last quarter. 0.01% of the stock is owned by insiders.

About Cisco Systems

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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