Catalina Capital Group LLC Sells 9,934 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Catalina Capital Group LLC reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 62.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,989 shares of the network equipment provider’s stock after selling 9,934 shares during the quarter. Catalina Capital Group LLC’s holdings in Cisco Systems were worth $370,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Mainstream Capital Management LLC purchased a new position in Cisco Systems in the 4th quarter worth approximately $132,000. Proficio Capital Partners LLC raised its holdings in 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 worth $1,003,000 after acquiring an additional 7,338 shares during the last quarter. Investment Management Corp of Ontario raised its holdings in Cisco Systems by 44.6% in the 4th quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider’s stock worth $11,454,000 after acquiring an additional 59,680 shares during the last quarter. AlTi Global Inc. raised its holdings in Cisco Systems by 49.8% in the 4th quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider’s stock worth $1,217,000 after acquiring an additional 6,811 shares during the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in Cisco Systems in the 4th quarter worth approximately $282,000. 73.33% of the stock is owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In related news, SVP Maria Victoria Wong sold 4,185 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total transaction of $265,789.35. Following the completion of the transaction, the senior vice president now directly owns 38,103 shares of the company’s stock, valued at approximately $2,419,921.53. This represents a 9.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeetendra I. Patel sold 9,961 shares of the 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 transaction, the insider now directly owns 257,162 shares of the company’s stock, valued at approximately $16,450,653.14. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,931 shares of company stock valued at $4,671,930 in the last 90 days. Insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Citigroup boosted their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Morgan Stanley reiterated a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Evercore ISI boosted their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. boosted their target price 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. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $65.00 to $73.00 in a research note on Monday. Seven investment 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.11.

Cisco Systems Trading Up 0.8%

Shares of Cisco Systems stock opened at $65.84 on Thursday. The company has a market capitalization of $260.73 billion, a P/E ratio of 26.87, a P/E/G ratio of 3.91 and a beta of 0.88. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The company has a fifty day moving average of $61.02 and a 200 day moving average of $60.69. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results 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 the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. Cisco Systems’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 EPS. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed 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 dividend yield of 2.49%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

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.