Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Chatham Capital Group Inc.

Chatham Capital Group Inc. reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 43.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,286 shares of the network equipment provider’s stock after selling 66,635 shares during the period. Chatham Capital Group Inc.’s holdings in Cisco Systems were worth $5,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Tallon Kerry Patrick purchased a new position in Cisco Systems during the fourth quarter valued at $603,000. Brighton Jones LLC raised its position in shares of Cisco Systems by 49.5% during the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after purchasing an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Cisco Systems by 37.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock valued at $542,000 after buying an additional 2,474 shares in the last quarter. GDS Wealth Management acquired a new stake in Cisco Systems in the 4th quarter worth about $205,000. Finally, Avitas Wealth Management LLC increased its stake in Cisco Systems by 0.7% during the 4th quarter. Avitas Wealth Management LLC now owns 37,219 shares of the network equipment provider’s stock worth $2,203,000 after buying an additional 256 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

Cisco Systems stock opened at $64.39 on Thursday. The company’s 50 day simple moving average is $59.47 and its 200-day simple moving average is $60.22. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The company has a market capitalization of $254.98 billion, a price-to-earnings ratio of 28.12, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the previous year, the company earned $0.88 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems declared that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is 66.94%.

Insider Buying and Selling at Cisco Systems

In other news, insider Jeetendra I. Patel sold 9,961 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the completion of the transaction, the insider now owns 257,162 shares of the company’s stock, valued at approximately $16,450,653.14. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. The trade was a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,616 shares of company stock valued at $2,640,095 in the last three months. 0.01% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CSCO has been the topic of several research reports. New Street Research reissued a “neutral” rating and issued a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. UBS Group increased their price target on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Rosenblatt Securities lifted their price objective on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Wall Street Zen upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. Finally, Wells Fargo & Company raised Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.00.

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.