Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Courier Capital LLC

Courier Capital LLC trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.3% during the 1st quarter, HoldingsChannel reports. The firm owned 147,457 shares of the network equipment provider’s stock after selling 458 shares during the quarter. Courier Capital LLC’s holdings in Cisco Systems were worth $9,100,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CSCO. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems in the 4th quarter valued at $26,000. Navigoe LLC bought a new position in shares of Cisco Systems during the 4th quarter worth about $26,000. Mpwm Advisory Solutions LLC bought a new position in shares of Cisco Systems during the 4th quarter worth about $26,000. JDM Financial Group LLC increased its holdings in shares of Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after purchasing an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems in the fourth quarter valued at about $30,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CSCO has been the topic of a number of analyst reports. Evercore ISI upped 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. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Wells Fargo & Company upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $72.00 to $75.00 in a report on Thursday, May 15th. New Street Research restated a “neutral” rating and issued a $70.00 price objective on shares of Cisco Systems in a report on Friday, May 16th. Finally, UBS Group increased their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Cisco Systems Stock Up 2.2%

Shares of CSCO stock opened at $66.06 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The firm’s fifty day moving average price is $59.61 and its two-hundred day moving average price is $60.38. The firm has a market capitalization of $261.60 billion, a P/E ratio of 28.85, a PEG 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 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter last year, the firm posted $0.88 EPS. The company’s quarterly revenue was up 11.4% on a year-over-year basis. On average, equities analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors 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 2.48%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s payout ratio is 66.94%.

Cisco Systems announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction dated 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 in the company, valued at $2,693,013.45. The trade was a 1.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now owns 191,184 shares of the company’s stock, valued at $11,604,868.80. This trade represents a 1.07% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,400 shares of company stock valued at $4,564,439. Company insiders own 0.01% of the company’s stock.

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.