Janney Montgomery Scott LLC Sells 74,700 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Janney Montgomery Scott LLC lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,541,119 shares of the network equipment provider’s stock after selling 74,700 shares during the period. Janney Montgomery Scott LLC owned 0.06% of Cisco Systems worth $126,827,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CSCO. Valued Wealth Advisors LLC acquired a new stake in Cisco Systems during the fourth quarter worth approximately $32,000. Delos Wealth Advisors LLC lifted its position in shares of Cisco Systems by 1,666.7% during the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after acquiring an additional 600 shares during the period. DiNuzzo Private Wealth Inc. bought a new position in Cisco Systems during the fourth quarter worth $33,000. Morton Brown Family Wealth LLC boosted its stake in Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 208 shares in the last quarter. Finally, Bourgeon Capital Management LLC grew its holdings in Cisco Systems by 3,500.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 700 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded down $0.04 during trading hours on Friday, reaching $46.65. The company had a trading volume of 14,692,599 shares, compared to its average volume of 17,853,866. 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, Inc. has a one year low of $44.95 and a one year high of $58.19. The firm has a market cap of $187.94 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 2.73 and a beta of 0.85. The business has a fifty day simple moving average of $46.96 and a 200 day simple moving average of $48.70.

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

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be given a $0.40 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.43%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Activity at Cisco Systems

In other news, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the transaction, the chief executive officer now owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 8,016 shares of the 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 directly owns 180,705 shares in the company, valued at approximately $8,717,209.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the sale, the chief executive officer now owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,106 shares of company stock valued at $1,908,923. Company insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CSCO shares. Morgan Stanley assumed coverage on shares of Cisco Systems in a research report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. started coverage on Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 target price on the stock. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $55.00 to $60.00 in a research report on Monday, April 15th. Finally, Citigroup assumed coverage on shares of Cisco Systems in a report on Friday, April 12th. They set a “neutral” rating and a $52.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $56.47.

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.