Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 67.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 152,869 shares of the network equipment provider's stock after selling 314,771 shares during the period. NorthCrest Asset Manangement LLC's holdings in Cisco Systems were worth $9,050,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. FPC Investment Advisory Inc. bought a new stake in shares of Cisco Systems in the 4th quarter worth about $26,000. Navigoe LLC bought a new stake in Cisco Systems in the fourth quarter worth about $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems in the fourth quarter worth about $26,000. JDM Financial Group LLC grew its stake 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. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter worth approximately $30,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Citigroup boosted their price objective on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, May 15th. New Street Research reissued a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research note on Friday, May 16th. UBS Group raised their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. 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. Finally, Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Cisco Systems has a consensus rating of "Moderate Buy" and an average target price of $68.00.

Insider Buying and Selling

In related news, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the sale, the insider now owns 257,162 shares of the company's stock, valued at $16,450,653.14. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Oliver Tuszik sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total transaction of $952,950.00. Following the completion of the transaction, the executive vice president now owns 131,676 shares in the company, valued at approximately $8,365,376.28. This trade represents a 10.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,616 shares of company stock worth $2,640,095 in the last three months. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Stock Down 0.4%

CSCO traded down $0.24 during trading on Friday, hitting $62.81. The stock had a trading volume of 25,829,006 shares, compared to its average volume of 20,244,721. The stock has a 50 day simple moving average of $59.30 and a two-hundred day simple moving average of $60.12. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The company has a market capitalization of $248.73 billion, a PE ratio of 27.43, a PEG ratio of 4.16 and a beta of 0.89.

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, topping analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter last year, the firm earned $0.88 EPS. The business's quarterly revenue was up 11.4% on a year-over-year basis. On average, research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's payout ratio is currently 66.94%.

Cisco Systems announced that its board has approved a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

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.