Fiduciary Financial Group LLC Has $576,000 Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Fiduciary Financial Group LLC lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 12.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,186 shares of the network equipment provider’s stock after selling 1,490 shares during the quarter. Fiduciary Financial Group LLC’s holdings in Cisco Systems were worth $576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Simplicity Wealth LLC increased its stake in shares of Cisco Systems by 405.2% in the first quarter. Simplicity Wealth LLC now owns 39,029 shares of the network equipment provider’s stock valued at $2,409,000 after buying an additional 31,303 shares during the period. GAMMA Investing LLC increased its position in Cisco Systems by 16.6% during the 1st quarter. GAMMA Investing LLC now owns 108,871 shares of the network equipment provider’s stock valued at $6,718,000 after purchasing an additional 15,514 shares during the period. Wealthcare Advisory Partners LLC increased its position in Cisco Systems by 6.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 79,471 shares of the network equipment provider’s stock valued at $4,904,000 after purchasing an additional 4,742 shares during the period. Everest Management Corp. acquired a new stake in Cisco Systems during the 1st quarter valued at approximately $674,000. Finally, Tounjian Advisory Partners LLC acquired a new stake in Cisco Systems during the 1st quarter valued at approximately $6,329,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insiders Place Their Bets

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of the business’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 value of $125,345.50. Following the completion of the sale, the executive vice president now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares of the company’s stock, valued at $2,693,013.45. The trade was a 1.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,400 shares of company stock valued at $4,564,439 over the last quarter. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $65.90 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The stock’s fifty day simple moving average is $59.69 and its two-hundred day simple moving average is $60.43. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The stock has a market cap of $260.96 billion, a PE ratio of 28.78, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88.

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, topping the consensus estimate of $0.92 by $0.04. 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%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 EPS. As a group, analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its Board of Directors has authorized a share buyback program 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 buy up to 6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is currently 66.94%.

Analysts Set New Price Targets

A number of research firms have weighed in on CSCO. New Street Research reissued a “neutral” rating and set a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. UBS Group increased their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, Evercore ISI increased their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

About Cisco Systems

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.