Cisco Systems, Inc. (NASDAQ:CSCO) Stake Lessened by First Foundation Advisors

First Foundation Advisors lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 18.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 205,747 shares of the network equipment provider’s stock after selling 47,537 shares during the period. First Foundation Advisors’ holdings in Cisco Systems were worth $10,269,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CSCO. Norges Bank purchased a new stake in shares of Cisco Systems in the fourth quarter valued at $2,528,939,000. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 acquiring an additional 6,345,954 shares in the last quarter. FIL Ltd raised its holdings in shares of Cisco Systems by 47.1% during the fourth quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after acquiring an additional 6,054,748 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Cisco Systems by 29.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,727,214 shares of the network equipment provider’s stock worth $895,576,000 after acquiring an additional 3,989,543 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of Cisco Systems by 25.0% during the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock worth $947,262,000 after acquiring an additional 3,753,165 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the sale, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the firm’s stock in a transaction dated 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 owns 180,705 shares in the company, valued at $8,717,209.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the transaction, the senior vice president now owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. Insiders have sold a total of 41,106 shares of company stock valued at $1,908,923 over the last three months. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded down $0.72 during midday trading on Friday, hitting $47.32. The company’s stock had a trading volume of 18,289,179 shares, compared to its average volume of 19,574,270. The stock has a market capitalization of $190.64 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 2.78 and a beta of 0.85. The stock’s 50 day simple moving average is $46.90 and its 200 day simple moving average is $48.47. Cisco Systems, Inc. has a fifty-two week low of $44.95 and a fifty-two week high of $58.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping 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 business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same period last year, the business earned $0.88 earnings per share. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors 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 yield of 3.38%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Analyst Upgrades and Downgrades

CSCO has been the subject of several recent research reports. Morgan Stanley initiated coverage on Cisco Systems in a report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price objective for the company. Barclays increased their price objective on Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, May 17th. BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a report on Monday, May 13th. Citigroup began coverage on Cisco Systems in a report on Friday, April 12th. They set a “neutral” rating and a $52.00 price objective for the company. Finally, JPMorgan Chase & Co. began coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 target price 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. According to MarketBeat.com, Cisco Systems has an average rating of “Hold” and a consensus target price of $56.47.

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.