OneDigital Investment Advisors LLC Sells 23,135 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

OneDigital Investment Advisors LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 20.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 88,247 shares of the network equipment provider's stock after selling 23,135 shares during the period. OneDigital Investment Advisors LLC's holdings in Cisco Systems were worth $5,446,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Navigoe LLC purchased a new position in Cisco Systems in the fourth quarter valued at about $26,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $26,000. JDM Financial Group LLC grew its stake 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 in the last quarter. Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems in the fourth quarter worth approximately $30,000. Finally, Campbell Capital Management Inc. bought a new stake in Cisco Systems in the fourth quarter worth $31,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CSCO. JPMorgan Chase & Co. upped their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Rosenblatt Securities upped their target price on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. KeyCorp assumed coverage on Cisco Systems in a research report on Thursday, June 26th. They set an "overweight" rating and a $77.00 target price for the company. Finally, Evercore ISI upped their target price on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $69.53.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 9,643 shares of Cisco Systems stock in a transaction dated 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 transaction, the executive vice president directly owned 181,186 shares of the company's stock, valued at $11,505,311. This trade represents a 5.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Oliver Tuszik sold 15,000 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 28th. The shares were 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 owned 131,676 shares of the company's stock, valued at $8,365,376.28. This trade represents a 10.23% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,335 shares of company stock valued at $6,271,054. Insiders own 0.01% of the company's stock.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO traded down $0.44 during midday trading on Monday, reaching $68.93. 22,606,868 shares of the company's stock were exchanged, compared to its average volume of 20,365,214. The company's 50 day simple moving average is $64.18 and its two-hundred day simple moving average is $61.58. The firm has a market capitalization of $272.96 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 4.15 and a beta of 0.90. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.78. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion during 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 company's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 earnings per share. Equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. 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 2.38%. Cisco Systems's payout ratio is presently 66.94%.

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.