Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Clean Yield Group

Clean Yield Group lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 120,278 shares of the network equipment provider’s stock after selling 1,313 shares during the period. Cisco Systems makes up about 2.4% of Clean Yield Group’s holdings, making the stock its 6th largest position. Clean Yield Group’s holdings in Cisco Systems were worth $7,422,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc increased its position in Cisco Systems by 8.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock valued at $123,000 after acquiring an additional 166 shares during the last quarter. Fairhaven Wealth Management LLC increased its position in Cisco Systems by 2.3% during the fourth quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock valued at $449,000 after acquiring an additional 167 shares during the last quarter. BlackDiamond Wealth Management LLC increased its position in Cisco Systems by 3.1% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock valued at $335,000 after acquiring an additional 168 shares during the last quarter. Legacy Financial Group Inc. increased its position in Cisco Systems by 3.4% during the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock valued at $302,000 after acquiring an additional 169 shares during the last quarter. Finally, Maple Capital Management Inc. increased its position in Cisco Systems by 1.4% during the fourth quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock valued at $709,000 after acquiring an additional 170 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. The Goldman Sachs Group upped their price target on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Barclays restated an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Wall Street Zen upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. Finally, UBS Group upped their price target on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the transaction, the chief executive officer now owns 688,409 shares in the company, valued at $44,478,105.49. This trade represents a 4.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares of the company’s stock, valued at $11,604,868.80. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,400 shares of company stock worth $4,564,439 in the last quarter. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $66.06 on Friday. The firm has a market cap of $261.60 billion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $59.61 and a 200-day moving average price of $60.36. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50.

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

Cisco Systems Announces Dividend

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 issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is presently 66.94%.

Cisco Systems announced that its board has initiated a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

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.