Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by MADDEN SECURITIES Corp

MADDEN SECURITIES Corp cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,375 shares of the network equipment provider’s stock after selling 495 shares during the quarter. MADDEN SECURITIES Corp’s holdings in Cisco Systems were worth $270,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mainstream Capital Management LLC purchased a new stake in Cisco Systems in the fourth quarter valued at $132,000. Proficio Capital Partners LLC lifted its holdings in shares of Cisco Systems by 76.4% in the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock valued at $1,003,000 after buying an additional 7,338 shares during the period. Investment Management Corp of Ontario boosted its stake in shares of Cisco Systems by 44.6% in the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider’s stock worth $11,454,000 after buying an additional 59,680 shares during the last quarter. Aveo Capital Partners LLC raised its position in Cisco Systems by 8.3% during the fourth quarter. Aveo Capital Partners LLC now owns 5,296 shares of the network equipment provider’s stock valued at $314,000 after acquiring an additional 407 shares in the last quarter. Finally, AlTi Global Inc. lifted its holdings in Cisco Systems by 49.8% in the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider’s stock valued at $1,217,000 after acquiring an additional 6,811 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on CSCO. Morgan Stanley reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. New Street Research restated a “neutral” rating and set a $70.00 price target on shares of Cisco Systems in a research report on Friday, May 16th. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. The Goldman Sachs Group increased their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, UBS Group lifted their price target on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $68.00.

Insider Buying and Selling at Cisco Systems

In other news, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.97, for a total transaction of $637,205.17. Following the transaction, the insider now owns 257,162 shares in the company, valued at $16,450,653.14. The trade was a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 688,409 shares of the company’s stock, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,400 shares of company stock worth $4,564,439. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO opened at $65.90 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The firm has a market capitalization of $260.96 billion, a PE ratio of 28.78, a P/E/G ratio of 4.16 and a beta of 0.88. The business’s 50 day moving average price is $59.69 and its 200-day moving average price is $60.43.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share 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 last year, the firm posted $0.88 EPS. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.49%. Cisco Systems’s payout ratio is presently 66.94%.

Cisco Systems declared that its board has approved a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

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.