Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Burns J W & Co. Inc. NY

Burns J W & Co. Inc. NY trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 14.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,025 shares of the network equipment provider’s stock after selling 1,875 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Cisco Systems were worth $550,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Cisco Systems during the 4th quarter worth $2,528,939,000. Charles Schwab Investment Management Inc. raised its holdings in Cisco Systems by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after purchasing an additional 6,345,954 shares in the last quarter. FIL Ltd lifted its position in Cisco Systems by 47.1% in the fourth quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock valued at $955,961,000 after purchasing an additional 6,054,748 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Cisco Systems by 29.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 17,727,214 shares of the network equipment provider’s stock valued at $895,576,000 after purchasing an additional 3,989,543 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Cisco Systems by 25.0% in the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock valued at $947,262,000 after buying an additional 3,753,165 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSCO has been the subject of several recent research reports. Wells Fargo & Company raised their price target on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 16th. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Monday, June 10th. JPMorgan Chase & Co. began coverage on Cisco Systems in a report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price target for the company. Finally, Barclays lifted their price objective on Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and an average price target of $56.47.

Insider Activity

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

Cisco Systems Stock Performance

Shares of CSCO traded up $0.06 during trading hours on Friday, reaching $47.51. 23,921,057 shares of the company’s stock traded hands, compared to its average volume of 20,878,226. The firm has a market capitalization of $191.41 billion, a price-to-earnings ratio of 16.00, a P/E/G ratio of 2.75 and a beta of 0.85. The business’s fifty day simple moving average is $47.06 and its two-hundred day simple moving average is $48.79. Cisco Systems, Inc. has a twelve month low of $44.95 and a twelve month high of $58.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same period last year, the company posted $0.88 EPS. The firm’s quarterly revenue was down 12.8% on a year-over-year basis. Analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently announced 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

About Cisco Systems

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.