Joel Isaacson & Co. LLC decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 4.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,165 shares of the network equipment provider’s stock after selling 721 shares during the period. Joel Isaacson & Co. LLC’s holdings in Cisco Systems were worth $775,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Voloridge Investment Management LLC acquired a new stake in shares of Cisco Systems in the 3rd quarter valued at $1,290,000. Gradient Investments LLC boosted its stake in shares of Cisco Systems by 36.3% in the 4th quarter. Gradient Investments LLC now owns 6,504 shares of the network equipment provider’s stock valued at $412,000 after purchasing an additional 1,731 shares in the last quarter. Heartwood Wealth Advisors LLC boosted its stake in shares of Cisco Systems by 7.5% in the 4th quarter. Heartwood Wealth Advisors LLC now owns 6,997 shares of the network equipment provider’s stock valued at $443,000 after purchasing an additional 487 shares in the last quarter. Legacy Private Trust Co. boosted its stake in shares of Cisco Systems by 0.3% in the 4th quarter. Legacy Private Trust Co. now owns 119,870 shares of the network equipment provider’s stock valued at $7,596,000 after purchasing an additional 349 shares in the last quarter. Finally, Stonnington Group LLC boosted its stake in shares of Cisco Systems by 828.0% in the 4th quarter. Stonnington Group LLC now owns 96,936 shares of the network equipment provider’s stock valued at $6,046,000 after purchasing an additional 86,490 shares in the last quarter. Institutional investors and hedge funds own 73.18% of the company’s stock.
In other Cisco Systems news, COO Maria Martinez sold 3,628 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $43.34, for a total transaction of $157,237.52. Following the completion of the transaction, the chief operating officer now owns 295,305 shares of the company’s stock, valued at approximately $12,798,518.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 12,717 shares of the company’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $43.79, for a total value of $556,877.43. Following the transaction, the chief executive officer now directly owns 651,577 shares of the company’s stock, valued at approximately $28,532,556.83. The disclosure for this sale can be found here. Insiders sold a total of 25,326 shares of company stock valued at $1,103,159 over the last quarter. 0.02% of the stock is owned by insiders.
Several equity research analysts have recently commented on the stock. StockNews.com initiated coverage on shares of Cisco Systems in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Bank of America cut their price target on Cisco Systems from $62.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, May 19th. JPMorgan Chase & Co. cut their price target on Cisco Systems from $67.00 to $62.00 and set an “overweight” rating for the company in a report on Thursday, May 19th. KGI Securities raised Cisco Systems from a “neutral” rating to an “outperform” rating in a report on Thursday, May 19th. Finally, Evercore ISI dropped their price objective on Cisco Systems from $62.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, May 19th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and an average target price of $55.05.
Shares of CSCO opened at $42.60 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.40 and a current ratio of 1.49. The stock has a 50 day simple moving average of $46.03 and a 200 day simple moving average of $53.05. Cisco Systems, Inc. has a 52-week low of $41.02 and a 52-week high of $64.29. The firm has a market capitalization of $176.41 billion, a PE ratio of 14.95, a P/E/G ratio of 2.27 and a beta of 0.99.
Cisco Systems (NASDAQ:CSCO – Get Rating) last issued its quarterly earnings data on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.01. Cisco Systems had a return on equity of 31.22% and a net margin of 23.28%. During the same period last year, the firm posted $0.75 earnings per share. Equities research analysts predict that Cisco Systems, Inc. will post 2.99 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be given a $0.38 dividend. The ex-dividend date is Tuesday, July 5th. This represents a $1.52 annualized dividend and a dividend yield of 3.57%. Cisco Systems’s dividend payout ratio is currently 53.33%.
Cisco Systems Company Profile: (Get Rating)
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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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