Pacific Sage Partners LLC Decreases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Pacific Sage Partners LLC reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,590 shares of the network equipment provider’s stock after selling 1,315 shares during the period. Pacific Sage Partners LLC’s holdings in Cisco Systems were worth $1,024,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Navigoe LLC acquired a new stake in shares of Cisco Systems in the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems during the fourth quarter worth about $26,000. JDM Financial Group LLC raised its stake in Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after acquiring an additional 300 shares during the period. Runnymede Capital Advisors Inc. acquired a new stake in Cisco Systems during the fourth quarter worth about $30,000. Finally, Campbell Capital Management Inc. acquired a new stake in Cisco Systems during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Up 1.6%

Cisco Systems stock opened at $67.38 on Tuesday. The company has a 50 day moving average price of $61.58 and a 200 day moving average price of $60.85. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $67.92. 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 firm has a market capitalization of $266.82 billion, a price-to-earnings ratio of 27.50, a P/E/G ratio of 3.97 and a beta of 0.88.

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

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is 66.94%.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 4,185 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $63.51, for a total value of $265,789.35. Following the completion of the sale, the senior vice president now owns 38,103 shares in the company, valued at $2,419,921.53. This represents a 9.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the completion of the sale, the executive vice president now owns 174,669 shares of the company’s stock, valued at approximately $11,447,806.26. The trade was a 4.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,335 shares of company stock valued at $6,271,054. Company insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CSCO. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Evercore ISI raised their price target 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. Rosenblatt Securities boosted their price objective on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Morgan Stanley reiterated a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, Citigroup boosted their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and an average target price of $69.11.

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.