Schnieders Capital Management LLC Has $830,000 Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Schnieders Capital Management LLC reduced its stake in Cisco Systems by 31.5% during Q1, selling 6,193 shares.
• Insider trades included CEO Charles Robbins selling nearly 30,000 shares of Cisco Systems stock, reflecting a 4.15% decrease in his holdings.
• Wall Street analysts generally hold a positive outlook on Cisco, with an average price target of $70.55 and multiple firms affirming or raising their ratings.

Schnieders Capital Management LLC lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 31.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,455 shares of the network equipment provider's stock after selling 6,193 shares during the quarter. Schnieders Capital Management LLC's holdings in Cisco Systems were worth $830,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CSCO. Goldman Sachs Group Inc. lifted its stake in Cisco Systems by 37.4% in the first quarter. Goldman Sachs Group Inc. now owns 46,973,293 shares of the network equipment provider's stock worth $2,898,722,000 after acquiring an additional 12,775,066 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Cisco Systems by 1,144.2% in the first quarter. Pacer Advisors Inc. now owns 8,120,886 shares of the network equipment provider's stock valued at $501,140,000 after buying an additional 7,468,212 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in Cisco Systems in the fourth quarter valued at $413,491,000. GAMMA Investing LLC lifted its holdings in Cisco Systems by 7,096.5% during the 1st quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock worth $414,593,000 after buying an additional 6,625,045 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Cisco Systems by 187.9% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider's stock worth $442,749,000 after acquiring an additional 4,880,747 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Up 2.5%

Shares of CSCO traded up $1.69 during mid-day trading on Wednesday, reaching $69.21. The company's stock had a trading volume of 23,097,640 shares, compared to its average volume of 16,347,027. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $69.78. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The company has a market cap of $274.07 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 3.78 and a beta of 0.91. The business has a fifty day moving average of $67.17 and a 200 day moving average of $62.89.

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

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were paid a $0.41 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.4%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CSCO. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and increased their price target for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Wolfe Research began coverage on shares of Cisco Systems in a research note on Tuesday, July 8th. They set a "peer perform" rating on the stock. UBS Group boosted their target price on Cisco Systems from $70.00 to $74.00 and gave the company a "neutral" rating in a report on Tuesday. KeyCorp assumed coverage on Cisco Systems in a research note on Thursday, June 26th. They set an "overweight" rating and a $77.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price objective on Cisco Systems from $73.00 to $78.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Eight investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $70.55.

Insiders Place Their Bets

In other Cisco Systems news, insider Jeetendra I. Patel sold 899 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $64.27, for a total value of $57,778.73. Following the sale, the insider directly owned 255,377 shares in the company, valued at $16,413,079.79. This trade represents a 0.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total transaction of $571,902.04. Following the transaction, the executive vice president directly owned 174,669 shares of the company's stock, valued at $11,447,806.26. This represents a 4.76% decrease in their position. 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 90 days. 0.01% of the stock is currently owned by corporate insiders.

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.