Broderick Brian C Decreases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Broderick Brian C lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 4,570 shares of the network equipment provider’s stock after selling 500 shares during the quarter. Broderick Brian C’s holdings in Cisco Systems were worth $282,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CSCO. Cornerstone Wealth Management LLC increased its stake in shares of Cisco Systems by 1.2% during the first quarter. Cornerstone Wealth Management LLC now owns 42,886 shares of the network equipment provider’s stock worth $2,646,000 after purchasing an additional 489 shares in the last quarter. Cushing Capital Partners LLC purchased a new position in Cisco Systems in the 1st quarter valued at about $1,003,000. Five Oceans Advisors acquired a new stake in Cisco Systems in the 1st quarter worth about $332,000. Bell Bank increased its stake in Cisco Systems by 1.6% during the 1st quarter. Bell Bank now owns 205,706 shares of the network equipment provider’s stock worth $12,694,000 after buying an additional 3,206 shares in the last quarter. Finally, Insigneo Advisory Services LLC raised its holdings in shares of Cisco Systems by 4.9% during the first quarter. Insigneo Advisory Services LLC now owns 22,085 shares of the network equipment provider’s stock valued at $1,363,000 after acquiring an additional 1,032 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cisco Systems news, EVP Oliver Tuszik sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total transaction of $952,950.00. Following the transaction, the executive vice president now directly owns 131,676 shares in the company, valued at $8,365,376.28. This represents a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total value of $48,821.34. Following the completion of the sale, the senior vice president now directly owns 36,937 shares of the company’s stock, valued at $2,366,553.59. The trade was a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,931 shares of company stock valued at $4,671,930. 0.01% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CSCO shares. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Rosenblatt Securities upped their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price target for the stock from $65.00 to $73.00 in a research note on Monday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.11.

Cisco Systems Stock Performance

Cisco Systems stock opened at $65.33 on Wednesday. The firm has a 50 day simple moving average of $60.86 and a 200-day simple moving average of $60.66. The stock has a market cap of $258.71 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 3.95 and a beta of 0.88. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 earnings per share. On average, analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders 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 dividend yield of 2.51%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is presently 66.94%.

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.