Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by London Co. of Virginia

London Co. of Virginia trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,794,404 shares of the network equipment provider's stock after selling 215,859 shares during the period. London Co. of Virginia owned approximately 0.10% of Cisco Systems worth $224,629,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new stake in shares of Cisco Systems during the 4th quarter worth about $26,000. Navigoe LLC purchased a new position in Cisco Systems in the fourth quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems during the fourth quarter valued at approximately $30,000. Campbell Capital Management Inc. purchased a new stake in Cisco Systems during the fourth quarter worth approximately $31,000. Finally, Synergy Investment Management LLC acquired a new stake in shares of Cisco Systems in the fourth quarter worth $36,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Maria Victoria Wong sold 762 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the transaction, the senior vice president now directly owns 44,155 shares in the company, valued at $2,693,013.45. This represents a 1.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the firm's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the sale, the chief executive officer now owns 736,120 shares in the company, valued at $47,413,489.20. The trade was a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,547 shares of company stock valued at $4,275,553. Company insiders own 0.01% of the company's stock.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of research reports. DZ Bank raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. UBS Group boosted their price objective on Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Citigroup increased their target price on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday. StockNews.com lowered Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 5th. Finally, Rosenblatt Securities upped their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of "Moderate Buy" and an average price target of $66.53.

Cisco Systems Stock Up 4.8%

Shares of CSCO stock traded up $2.97 during trading hours on Thursday, hitting $64.26. 60,700,357 shares of the company were exchanged, compared to its average volume of 20,557,589. 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 stock has a market capitalization of $255.65 billion, a price-to-earnings ratio of 28.06, a P/E/G ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The business's 50-day simple moving average is $58.65 and its two-hundred day simple moving average is $59.54.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.91 by $0.05. The company had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. During the same quarter last year, the firm earned $0.88 EPS. Sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems declared that its board has approved a stock repurchase program on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

Cisco Systems Announces Dividend

The firm 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 $0.41 dividend. 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 2.55%. Cisco Systems's payout ratio is currently 71.62%.

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.