Cisco Systems, Inc. (NASDAQ:CSCO) Stake Lowered by Principal Street Partners LLC

Principal Street Partners LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 31.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,396 shares of the network equipment provider's stock after selling 4,308 shares during the period. Principal Street Partners LLC's holdings in Cisco Systems were worth $556,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CSCO. FPC Investment Advisory Inc. bought a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $26,000. Navigoe LLC bought a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. bought a new position in Cisco Systems during the 4th quarter valued at about $30,000. Campbell Capital Management Inc. bought a new position in Cisco Systems during the 4th quarter valued at about $31,000. Finally, Synergy Investment Management LLC bought a new position in Cisco Systems during the 4th quarter valued at about $36,000. Institutional investors own 73.33% of the company's stock.

Insider Activity at Cisco Systems

In related news, insider Jeetendra I. Patel sold 9,961 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the transaction, the insider now owns 257,162 shares in the company, valued at approximately $16,450,653.14. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares of the company's stock, valued at $11,604,868.80. The trade was a 1.07% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,431 shares of company stock worth $1,421,356. Company insiders own 0.01% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CSCO. UBS Group lifted their target price on Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Evercore ISI lifted 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. Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a research report on Wednesday. Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Finally, Citigroup increased their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $68.00.

Cisco Systems Price Performance

Shares of CSCO traded down $0.25 during mid-day trading on Friday, reaching $63.11. 15,644,520 shares of the company's stock were exchanged, compared to its average volume of 20,300,665. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The company has a market cap of $251.07 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 4.16 and a beta of 0.89. The company has a 50-day simple moving average of $59.05 and a two-hundred day simple moving average of $59.93.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued 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 business had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 earnings per share. On average, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its board has initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.60%. Cisco Systems's payout ratio is 66.94%.

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.