Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Saturna Capital Corp

Saturna Capital Corp cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 1.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,740,685 shares of the network equipment provider's stock after selling 17,875 shares during the period. Cisco Systems makes up approximately 1.6% of Saturna Capital Corp's holdings, making the stock its 25th biggest position. Saturna Capital Corp's holdings in Cisco Systems were worth $107,418,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Kornitzer Capital Management Inc. KS grew 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 worth $55,049,000 after buying an additional 6,501 shares during the period. Golden State Wealth Management LLC lifted its stake in Cisco Systems by 10.8% in the first quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider's stock valued at $389,000 after buying an additional 612 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in Cisco Systems by 76.4% in the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock valued at $1,003,000 after buying an additional 7,338 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Cisco Systems by 28.9% in the first 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 buying an additional 904,548 shares in the last quarter. Finally, Investment Management Corp of Ontario lifted its stake in Cisco Systems by 44.6% in the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock valued at $11,454,000 after buying an additional 59,680 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on CSCO shares. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. KeyCorp assumed coverage on shares of Cisco Systems in a research report on Thursday, June 26th. They issued an "overweight" rating and a $77.00 target price for the company. Citigroup boosted their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, Evercore ISI boosted 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. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems presently has an average rating of "Moderate Buy" and an average target price of $70.35.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the transaction, the executive vice president directly owned 174,669 shares of the company's stock, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total value of $154,072.07. Following the sale, the executive vice president directly owned 177,027 shares in the company, valued at approximately $11,331,498.27. This trade represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock valued at $6,271,054 in the last three months. 0.01% of the stock is currently owned by insiders.

Cisco Systems Trading Down 0.4%

Shares of Cisco Systems stock traded down $0.25 during midday trading on Friday, reaching $68.05. 16,138,141 shares of the company's stock traded hands, compared to its average volume of 20,295,616. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The company has a market cap of $269.48 billion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 4.09 and a beta of 0.90. The stock has a 50 day moving average of $65.84 and a 200-day moving average of $62.09. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its 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 for the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company's quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 earnings per share. As a group, equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio is currently 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.