Shufro Rose & Co. LLC Cuts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Shufro Rose & Co. LLC reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 23.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,153 shares of the network equipment provider's stock after selling 6,440 shares during the quarter. Shufro Rose & Co. LLC's holdings in Cisco Systems were worth $1,252,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CSCO. FPC Investment Advisory Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter valued at about $26,000. Navigoe LLC purchased a new position in Cisco Systems in the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC purchased a new stake in Cisco Systems in the 4th quarter worth approximately $26,000. JDM Financial Group LLC grew its holdings in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after buying an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Cisco Systems in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Trading Up 1.0%

Shares of NASDAQ:CSCO traded up $0.64 during midday trading on Tuesday, hitting $63.75. 17,422,554 shares of the stock were exchanged, compared to its average volume of 20,322,613. The stock has a market capitalization of $252.45 billion, a price-to-earnings ratio of 27.84, a P/E/G ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The business's 50-day moving average price is $59.09 and its 200 day moving average price is $59.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current 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. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same period in the prior year, the firm earned $0.88 earnings per share. Cisco Systems's revenue was up 11.4% on a year-over-year basis. Analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.57%. Cisco Systems's dividend payout ratio is currently 66.94%.

Cisco Systems declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CSCO shares. Evercore ISI upped their price target on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Wells Fargo & Company upgraded shares of 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. JPMorgan Chase & Co. upped their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. BNP Paribas upgraded Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 target price on the stock in a research report on Tuesday, January 28th. Finally, Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. 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 company. According to data from MarketBeat, Cisco Systems currently has an average rating of "Moderate Buy" and a consensus target price of $68.00.

Insiders Place Their Bets

In related news, SVP Maria Victoria Wong sold 762 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the transaction, the senior vice president now owns 44,155 shares of the company's stock, valued at approximately $2,693,013.45. This represents a 1.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now owns 191,184 shares in the company, valued at $11,604,868.80. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,431 shares of company stock worth $1,421,356 in the last quarter. 0.01% of the stock is owned by company 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.