Outfitter Financial LLC Sells 4,075 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Outfitter Financial LLC lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 9.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,091 shares of the network equipment provider's stock after selling 4,075 shares during the period. Cisco Systems accounts for 2.1% of Outfitter Financial LLC's portfolio, making the stock its 17th largest holding. Outfitter Financial LLC's holdings in Cisco Systems were worth $2,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of CSCO. Kornitzer Capital Management Inc. KS raised its position in shares of 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 acquiring an additional 6,501 shares during the last quarter. Golden State Wealth Management LLC raised its position in shares of 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 acquiring an additional 612 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of Cisco Systems by 76.4% during the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock valued at $1,003,000 after acquiring an additional 7,338 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of 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 acquiring an additional 904,548 shares during the last quarter. Finally, Investment Management Corp of Ontario raised its position in shares of 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 acquiring an additional 59,680 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Up 0.2%

NASDAQ CSCO traded up $0.17 during trading hours on Friday, reaching $68.47. 3,561,955 shares of the company's stock traded hands, compared to its average volume of 20,240,047. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.78. The firm has a market cap of $271.12 billion, a PE ratio of 27.95, a PEG ratio of 4.03 and a beta of 0.90. The firm has a 50-day simple moving average of $65.67 and a 200 day simple moving average of $62.03. 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 issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. The business 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 business's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 earnings per share. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.40%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Insiders Place Their Bets

In other news, EVP Deborah L. Stahlkopf sold 9,643 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 181,186 shares of the company's stock, valued at $11,505,311. The trade was a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the transaction, the chief financial officer directly owned 309,543 shares of the company's stock, valued at $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CSCO has been the subject of several recent research reports. Evercore ISI upped their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Wall Street Zen cut shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. CICC Research assumed coverage on shares of Cisco Systems in a report on Monday. They issued an "outperform" rating and a $78.00 price target for the company. KeyCorp assumed coverage on shares of Cisco Systems in a report on Thursday, June 26th. They issued an "overweight" rating and a $77.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a "hold" rating to a "buy" rating and boosted their price target for the company from $65.00 to $73.00 in a report on Monday, June 16th. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Cisco Systems has an average rating of "Moderate Buy" and a consensus price target of $70.35.

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.

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