Vontobel Holding Ltd. Decreases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Vontobel Holding Ltd. lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,046,646 shares of the network equipment provider's stock after selling 23,570 shares during the quarter. Vontobel Holding Ltd.'s holdings in Cisco Systems were worth $64,589,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Glass Jacobson Investment Advisors llc increased its stake in shares of Cisco Systems by 8.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock worth $123,000 after purchasing an additional 166 shares during the last quarter. BlackDiamond Wealth Management LLC grew its holdings in Cisco Systems by 3.1% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock valued at $335,000 after buying an additional 168 shares in the last quarter. Legacy Financial Group Inc. raised its stake in Cisco Systems by 3.4% in the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock worth $302,000 after purchasing an additional 169 shares in the last quarter. Capital Advantage Inc. boosted its stake in shares of Cisco Systems by 1.0% in the fourth quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider's stock valued at $1,028,000 after buying an additional 172 shares during the period. Finally, Lynx Investment Advisory grew its holdings in shares of Cisco Systems by 3.9% during the 4th quarter. Lynx Investment Advisory now owns 4,593 shares of the network equipment provider's stock worth $272,000 after purchasing an additional 174 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. New Street Research restated a "neutral" rating and set a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. JPMorgan Chase & Co. raised their price target 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. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Finally, Morgan Stanley reissued a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $69.53.

Insider Transactions at Cisco Systems

In other news, insider Jeetendra I. Patel sold 899 shares of the firm's stock in a transaction dated 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 approximately $16,413,079.79. This trade represents a 0.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,726 shares of Cisco Systems stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the completion of the transaction, the executive vice president directly owned 174,669 shares in the company, valued at $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,335 shares of company stock valued at $6,271,054. Company insiders own 0.01% of the company's stock.

Cisco Systems Price Performance

Shares of NASDAQ CSCO traded up $1.35 during midday trading on Thursday, reaching $69.53. The stock had a trading volume of 17,923,892 shares, compared to its average volume of 21,900,006. The company has a market capitalization of $275.34 billion, a price-to-earnings ratio of 28.38, a price-to-earnings-growth ratio of 4.13 and a beta of 0.90. 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 stock has a 50-day moving average of $63.41 and a 200-day moving average of $61.30. 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 posted its 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 return on equity of 26.48% and a net margin of 17.60%. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the prior year, the company earned $0.88 EPS. The company's quarterly revenue was up 11.4% compared to the same quarter last year. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid 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 2.36%. Cisco Systems's dividend payout ratio is 66.94%.

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.