Strategic Planning Group LLC Trims Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Strategic Planning Group LLC reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 10.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,965 shares of the network equipment provider's stock after selling 13,577 shares during the quarter. Cisco Systems comprises approximately 1.4% of Strategic Planning Group LLC's holdings, making the stock its 23rd largest position. Strategic Planning Group LLC's holdings in Cisco Systems were worth $7,033,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mainstream Capital Management LLC bought a new position in Cisco Systems in the 4th quarter valued at approximately $132,000. Proficio Capital Partners LLC lifted its stake in Cisco Systems by 76.4% during the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock valued at $1,003,000 after acquiring an additional 7,338 shares during the period. Investment Management Corp of Ontario boosted its holdings in shares of Cisco Systems by 44.6% during the 4th quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock valued at $11,454,000 after acquiring an additional 59,680 shares during the last quarter. Aveo Capital Partners LLC grew its stake in shares of Cisco Systems by 8.3% in the fourth quarter. Aveo Capital Partners LLC now owns 5,296 shares of the network equipment provider's stock worth $314,000 after acquiring an additional 407 shares during the period. Finally, AlTi Global Inc. raised its holdings in shares of Cisco Systems by 49.8% during the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider's stock valued at $1,217,000 after purchasing an additional 6,811 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Analysts Set New Price Targets

CSCO has been the topic of several research reports. UBS Group raised their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Wall Street Zen raised Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Evercore ISI raised their price target on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. boosted their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Finally, Citigroup raised their price target on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report 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 company's stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of "Moderate Buy" and a consensus target price of $68.00.

Cisco Systems Trading Up 0.4%

Cisco Systems stock traded up $0.23 during mid-day trading on Thursday, hitting $64.62. The company's stock had a trading volume of 17,001,251 shares, compared to its average volume of 20,148,367. 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 50 day moving average of $59.47 and a 200-day moving average of $60.22. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The stock has a market cap of $255.90 billion, a PE ratio of 28.22, a P/E/G ratio of 4.16 and a beta of 0.88.

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, beating 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 net margin of 16.96% and a return on equity of 26.08%. The business's revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 earnings per share. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Cisco Systems declared that its Board of Directors has approved a stock 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 repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In related news, 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 transaction of $125,345.50. Following the transaction, the executive vice president now directly owns 191,184 shares of the company's stock, valued at $11,604,868.80. This represents a 1.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction dated 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 sale, the senior vice president now owns 44,155 shares of the company's stock, valued at approximately $2,693,013.45. This trade represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,616 shares of company stock worth $2,640,095. Corporate insiders own 0.01% of the company's stock.

About Cisco Systems

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.