Trillium Asset Management LLC Decreases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Trillium Asset Management LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 26.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,848 shares of the network equipment provider’s stock after selling 40,775 shares during the period. Trillium Asset Management LLC’s holdings in Cisco Systems were worth $5,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CSCO. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Cisco Systems by 1,096.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock worth $146,845,000 after purchasing an additional 2,663,676 shares in the last quarter. Roble Belko & Company Inc raised its stake in shares of Cisco Systems by 77.1% during the 4th quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock valued at $324,000 after buying an additional 2,788 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Cisco Systems during the 4th quarter valued at about $28,685,000. Allen Mooney & Barnes Investment Advisors LLC raised its stake in shares of Cisco Systems by 0.6% during the 4th quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 192,674 shares of the network equipment provider’s stock valued at $9,734,000 after buying an additional 1,097 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its position in shares of Cisco Systems by 0.6% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 270,841 shares of the network equipment provider’s stock valued at $13,683,000 after acquiring an additional 1,520 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CSCO. BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a research report on Monday, May 13th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Oppenheimer raised their target price on Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. Finally, JPMorgan Chase & Co. began coverage on Cisco Systems in a research report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price target on the stock. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $56.47.

Cisco Systems Stock Performance

Shares of CSCO stock traded down $0.72 during midday trading on Friday, hitting $47.32. The company had a trading volume of 18,260,019 shares, compared to its average volume of 19,588,207. The company’s 50 day simple moving average is $46.92 and its 200 day simple moving average is $48.51. Cisco Systems, Inc. has a 52-week low of $44.95 and a 52-week high of $58.19. The stock has a market cap of $190.64 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 2.81 and a beta of 0.85. 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 posted its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The firm had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 earnings per share. Research analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the sale, the senior vice president now directly owns 51,788 shares in the company, valued at $2,352,210.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the sale, the senior vice president now directly owns 51,788 shares in the company, valued at $2,352,210.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were 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 in the company, valued at $33,439,234.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,106 shares of company stock valued at $1,908,923. Insiders own 0.02% of the company’s stock.

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.