Marino Stram & Associates LLC Cuts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Marino Stram & Associates LLC trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,028 shares of the network equipment provider’s stock after selling 432 shares during the period. Marino Stram & Associates LLC’s holdings in Cisco Systems were worth $619,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its stake in shares of Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock valued at $4,571,218,000 after buying an additional 13,285,052 shares in the last quarter. Norges Bank acquired a new stake in Cisco Systems in the fourth quarter valued at $3,297,905,000. Northern Trust Corp boosted its position in shares of Cisco Systems by 11.4% during the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider’s stock worth $2,796,505,000 after purchasing an additional 4,832,813 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Cisco Systems by 7.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider’s stock worth $2,159,099,000 after purchasing an additional 2,637,006 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Cisco Systems by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider’s stock valued at $1,741,597,000 after purchasing an additional 681,555 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CSCO shares. Evercore ISI upped their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the stock from $65.00 to $73.00 in a research note on Monday. Morgan Stanley reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. JPMorgan Chase & Co. boosted their target price on Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. Finally, Rosenblatt Securities upped their target price on Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.11.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $65.33 on Wednesday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The firm has a market cap of $258.71 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 3.95 and a beta of 0.88. The company’s 50-day moving average is $60.86 and its two-hundred day moving average is $60.66. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 earnings per share. Research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is currently 66.94%.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the transaction, the chief executive officer now owns 688,409 shares of the company’s stock, valued at $44,478,105.49. This trade represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of Cisco Systems stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the transaction, the executive vice president now owns 181,186 shares in the company, valued at approximately $11,505,311. This trade represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,931 shares of company stock worth $4,671,930. 0.01% of the stock is currently owned by insiders.

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.