Tectonic Advisors LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 177,425 shares of the network equipment provider's stock after selling 3,736 shares during the period. Cisco Systems comprises approximately 0.7% of Tectonic Advisors LLC's investment portfolio, making the stock its 27th biggest position. Tectonic Advisors LLC's holdings in Cisco Systems were worth $10,949,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the stock. Navigoe LLC bought a new stake in Cisco Systems in the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems during the 4th quarter worth about $26,000. JDM Financial Group LLC grew its holdings in Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after acquiring an additional 300 shares during the period. Runnymede Capital Advisors Inc. acquired a new stake in Cisco Systems during the 4th quarter worth about $30,000. Finally, Fairway Wealth LLC grew its holdings in Cisco Systems by 224.7% during the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock worth $36,000 after acquiring an additional 400 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Cisco Systems Stock Performance
Shares of Cisco Systems stock traded down $0.25 during mid-day trading on Friday, hitting $68.05. 15,635,018 shares of the stock were exchanged, compared to its average volume of 20,286,720. 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 capitalization of $269.48 billion, a P/E ratio of 27.78, a P/E/G ratio of 4.03 and a beta of 0.90. The company has a 50-day simple moving average of $65.67 and a 200 day simple moving average of $62.03. 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 quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same period in the previous year, the business earned $0.88 EPS. Cisco Systems's revenue was up 11.4% compared to the same quarter last year. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.
Cisco Systems Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.41%. Cisco Systems's dividend payout ratio (DPR) is currently 66.94%.
Insider Transactions at Cisco Systems
In related news, EVP Deborah L. Stahlkopf sold 9,643 shares of Cisco Systems stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the sale, the executive vice president owned 181,186 shares of the company's stock, valued at approximately $11,505,311. This trade represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the completion of the transaction, the chief executive officer owned 688,409 shares in the company, valued at $44,478,105.49. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,335 shares of company stock valued at $6,271,054. Corporate insiders own 0.01% of the company's stock.
Analysts Set New Price Targets
A number of analysts have weighed in on the company. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Morgan Stanley increased their price objective on shares of Cisco Systems from $67.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday. Citigroup increased their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a "hold" rating to a "buy" rating and increased their price objective for the stock from $65.00 to $73.00 in a research report on Monday, June 16th. Finally, CICC Research started coverage on shares of Cisco Systems in a research report on Monday. They set an "outperform" rating and a $78.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.35.
Check Out Our Latest Stock Analysis on CSCO
About Cisco Systems
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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.
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