Yacktman Asset Management LP Sells 736,830 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Yacktman Asset Management LP lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 62.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 442,914 shares of the network equipment provider's stock after selling 736,830 shares during the period. Yacktman Asset Management LP's holdings in Cisco Systems were worth $27,332,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Navigoe LLC purchased a new stake in Cisco Systems during the fourth quarter worth about $26,000. Mpwm Advisory Solutions LLC bought a new position in shares of Cisco Systems in the fourth quarter valued at approximately $26,000. JDM Financial Group LLC raised its stake in Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. Runnymede Capital Advisors Inc. purchased a new stake in Cisco Systems in the fourth quarter valued at approximately $30,000. Finally, Campbell Capital Management Inc. purchased a new stake in Cisco Systems in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 73.33% of the company's stock.

Insiders Place Their Bets

In related news, CFO Richard Scott Herren sold 15,678 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the sale, the chief financial officer owned 309,543 shares of the company's stock, valued at approximately $20,281,257.36. This trade represents a 4.82% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $65.54, for a total value of $571,902.04. Following the transaction, the executive vice president owned 174,669 shares in the company, valued at approximately $11,447,806.26. This trade represents a 4.76% 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. Company insiders own 0.01% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on CSCO shares. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Rosenblatt Securities boosted their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and boosted their target price for the company from $65.00 to $73.00 in a report on Monday, June 16th. Evercore ISI upped their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Finally, Wall Street Zen upgraded shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Eight research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $69.53.

Cisco Systems Trading Down 0.5%

NASDAQ:CSCO opened at $68.59 on Wednesday. The company has a market capitalization of $271.62 billion, a PE ratio of 28.00, a P/E/G ratio of 4.12 and a beta of 0.90. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The stock's 50 day moving average price is $64.40 and its 200 day moving average price is $61.63. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week 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, topping analysts' consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. Cisco Systems's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders 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 annualized dividend and a yield of 2.39%. Cisco Systems's dividend payout ratio is presently 66.94%.

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.

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