Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 16.5% in the first quarter, HoldingsChannel reports. The firm owned 13,300 shares of the network equipment provider’s stock after selling 2,620 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Cisco Systems were worth $664,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. ESL Trust Services LLC purchased a new position in Cisco Systems in the first quarter worth approximately $50,000. Ironwood Investment Counsel LLC lifted its stake in Cisco Systems by 0.9% in the first quarter. Ironwood Investment Counsel LLC now owns 173,453 shares of the network equipment provider’s stock worth $8,657,000 after acquiring an additional 1,505 shares during the last quarter. Catalytic Wealth RIA LLC lifted its stake in Cisco Systems by 18.3% in the first quarter. Catalytic Wealth RIA LLC now owns 37,934 shares of the network equipment provider’s stock worth $1,893,000 after acquiring an additional 5,856 shares during the last quarter. Jacobi Capital Management LLC lifted its stake in Cisco Systems by 1.0% in the first quarter. Jacobi Capital Management LLC now owns 84,653 shares of the network equipment provider’s stock worth $4,225,000 after acquiring an additional 832 shares during the last quarter. Finally, Strait & Sound Wealth Management LLC lifted its stake in Cisco Systems by 1.1% in the first quarter. Strait & Sound Wealth Management LLC now owns 23,547 shares of the network equipment provider’s stock worth $1,166,000 after acquiring an additional 251 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the transaction, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 725,363 shares in the company, valued at approximately $33,439,234.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the sale, the executive vice president now owns 176,384 shares in the company, valued at $7,997,250.56. 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 in the last ninety days. 0.02% of the stock is currently owned by company insiders.

Cisco Systems Stock Performance

CSCO traded down $0.10 during trading on Tuesday, hitting $46.72. The stock had a trading volume of 3,601,154 shares, compared to its average volume of 19,479,117. 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, Inc. has a twelve month low of $44.95 and a twelve month high of $58.19. The firm has a market capitalization of $188.23 billion, a P/E ratio of 15.73, a PEG ratio of 2.74 and a beta of 0.85. The company’s 50-day moving average price is $46.86 and its 200 day moving average price is $48.44.

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, topping analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $12.53 billion. During the same period in the prior year, the company posted $0.88 EPS. The business’s revenue for the quarter was down 12.8% on a year-over-year basis. On average, equities research analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be paid 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 3.42%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CSCO shares. BNP Paribas upgraded shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research note on Monday, May 13th. Barclays boosted their price objective on shares of Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, May 17th. Oppenheimer boosted their price objective on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. JPMorgan Chase & Co. initiated coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price objective for the company. Finally, StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.