Cisco Systems, Inc. (NASDAQ:CSCO) Position Lessened by West Paces Advisors Inc.

West Paces Advisors Inc. cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,088 shares of the network equipment provider’s stock after selling 729 shares during the period. West Paces Advisors Inc.’s holdings in Cisco Systems were worth $853,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Prentice Wealth Management LLC raised its position in Cisco Systems by 7.6% in the 1st quarter. Prentice Wealth Management LLC now owns 10,961 shares of the network equipment provider’s stock worth $547,000 after purchasing an additional 777 shares during the last quarter. Sarasin & Partners LLP increased its position in shares of Cisco Systems by 6.9% in the 1st quarter. Sarasin & Partners LLP now owns 3,690,746 shares of the network equipment provider’s stock valued at $184,205,000 after buying an additional 237,601 shares in the last quarter. DLK Investment Management LLC increased its position in shares of Cisco Systems by 2.3% in the 1st quarter. DLK Investment Management LLC now owns 63,065 shares of the network equipment provider’s stock valued at $3,148,000 after buying an additional 1,393 shares in the last quarter. New England Professional Planning Group Inc. boosted its stake in Cisco Systems by 8.8% in the 1st quarter. New England Professional Planning Group Inc. now owns 7,319 shares of the network equipment provider’s stock worth $365,000 after purchasing an additional 590 shares during the period. Finally, Dynamic Advisor Solutions LLC boosted its stake in Cisco Systems by 2.6% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 248,056 shares of the network equipment provider’s stock worth $12,380,000 after purchasing an additional 6,395 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO traded down $0.52 during trading on Wednesday, hitting $46.86. 13,351,892 shares of the company were exchanged, compared to its average volume of 19,751,313. The business’s 50 day moving average is $47.11 and its 200-day moving average is $48.83. The company has a market capitalization of $188.79 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 2.74 and a beta of 0.85. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a 1-year low of $44.95 and a 1-year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.18. The company had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 earnings per share. Equities analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.41%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total value of $155,016.42. Following the completion of the sale, the senior vice president now owns 52,953 shares in the company, valued at approximately $2,430,013.17. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Maria Victoria Wong sold 3,378 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total value of $155,016.42. Following the completion of the transaction, the senior vice president now directly owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the completion of the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The disclosure for this sale can be found here. Insiders have sold 41,106 shares of company stock valued at $1,908,923 in the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CSCO has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Tuesday, April 9th. Morgan Stanley initiated coverage on shares of Cisco Systems in a report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price target on the stock. Wells Fargo & Company increased their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, May 16th. Oppenheimer increased their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. Finally, Barclays increased their price target on shares of Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, May 17th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.47.

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.