Shufro Rose & Co. LLC Sells 6,440 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

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

Several other large investors have also recently bought and sold shares of the company. Cypress Asset Management Inc. TX bought a new stake in shares of Cisco Systems during the 4th quarter worth approximately $456,000. Ameriflex Group Inc. acquired a new stake in shares of Cisco Systems in the 4th quarter worth about $531,000. United Advisor Group LLC boosted its holdings in Cisco Systems by 9.6% during the 4th quarter. United Advisor Group LLC now owns 10,877 shares of the network equipment provider's stock worth $644,000 after acquiring an additional 951 shares during the last quarter. American Trust boosted its holdings in shares of Cisco Systems by 19.0% in the 4th quarter. American Trust now owns 6,764 shares of the network equipment provider's stock worth $400,000 after buying an additional 1,080 shares during the last quarter. Finally, Ascent Group LLC boosted its holdings in shares of Cisco Systems by 16.0% in the 4th quarter. Ascent Group LLC now owns 54,077 shares of the network equipment provider's stock worth $3,201,000 after buying an additional 7,464 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the sale, the executive vice president now owns 191,184 shares in the company, valued at approximately $11,604,868.80. The trade was a 1.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 762 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. This represents a 1.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,431 shares of company stock worth $1,421,356 over the last 90 days. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Stock Down 0.6%

Shares of NASDAQ CSCO traded down $0.39 during mid-day trading on Thursday, reaching $62.95. The company had a trading volume of 6,678,465 shares, compared to its average volume of 20,251,898. The stock has a fifty day moving average of $59.22 and a two-hundred day moving average of $60.04. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The company has a market capitalization of $249.27 billion, a price-to-earnings ratio of 27.49, a PEG 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.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same quarter last year, the firm posted $0.88 earnings per share. The company's quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems announced that its board has initiated a share repurchase program on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.61%. Cisco Systems's payout ratio is 66.94%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Evercore ISI upped their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Wall Street Zen raised Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Barclays restated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. 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 note on Thursday, May 15th. Finally, Rosenblatt Securities upped their price objective on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and an average target price of $68.00.

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.