OneDigital Investment Advisors LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 20.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,247 shares of the network equipment provider's stock after selling 23,135 shares during the quarter. OneDigital Investment Advisors LLC's holdings in Cisco Systems were worth $5,446,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Navigoe LLC purchased a new position in shares of Cisco Systems in the 4th quarter worth $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems during the 4th quarter worth approximately $26,000. JDM Financial Group LLC grew its stake in Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after buying an additional 300 shares during the period. Runnymede Capital Advisors Inc. purchased a new stake in Cisco Systems during the 4th quarter worth $30,000. Finally, Campbell Capital Management Inc. acquired a new stake in Cisco Systems in the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 73.33% of the company's stock.
Cisco Systems Stock Up 1.5%
NASDAQ:CSCO traded up $1.05 during trading hours on Friday, reaching $69.64. The company's stock had a trading volume of 17,973,495 shares, compared to its average volume of 20,328,057. 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 company has a market cap of $275.77 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 4.15 and a beta of 0.90. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78. The business's 50-day moving average is $63.93 and its 200-day moving average is $61.45.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same period in the prior year, the company earned $0.88 earnings per share. The business's quarterly revenue was up 11.4% compared to the same quarter last year. Equities research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.
Cisco Systems Dividend Announcement
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 2.35%. Cisco Systems's payout ratio is presently 66.94%.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on CSCO. 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. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a "hold" rating to a "buy" rating and boosted their price target for the stock from $65.00 to $73.00 in a research report on Monday, June 16th. KeyCorp began coverage on shares of Cisco Systems in a research note on Thursday, June 26th. They set an "overweight" rating and a $77.00 price objective on the stock. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, Evercore ISI lifted their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $69.53.
View Our Latest Analysis on Cisco Systems
Insider Activity at Cisco Systems
In other news, EVP Oliver Tuszik sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the completion of the transaction, the executive vice president owned 131,676 shares in the company, valued at $8,365,376.28. This represents a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 directly owned 181,186 shares in the company, valued at $11,505,311. This represents a 5.05% decrease in their ownership of the stock. 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.
About Cisco Systems
(
Free Report)
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.
Further Reading
Before you consider Cisco Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cisco Systems wasn't on the list.
While Cisco Systems currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
