Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Tealwood Asset Management Inc.

Tealwood Asset Management Inc. decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,846 shares of the network equipment provider’s stock after selling 1,716 shares during the quarter. Cisco Systems accounts for about 1.3% of Tealwood Asset Management Inc.’s portfolio, making the stock its 8th largest holding. Tealwood Asset Management Inc.’s holdings in Cisco Systems were worth $2,891,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Affirmative Financial Network raised its position in shares of Cisco Systems by 12.1% in the 1st quarter. First Affirmative Financial Network now owns 23,514 shares of the network equipment provider’s stock valued at $1,451,000 after buying an additional 2,544 shares in the last quarter. Radnor Capital Management LLC raised its position in shares of Cisco Systems by 2.7% in the 1st quarter. Radnor Capital Management LLC now owns 52,344 shares of the network equipment provider’s stock valued at $3,230,000 after buying an additional 1,395 shares in the last quarter. Pines Wealth Management LLC raised its position in shares of Cisco Systems by 5.3% in the 1st quarter. Pines Wealth Management LLC now owns 17,788 shares of the network equipment provider’s stock valued at $1,098,000 after buying an additional 889 shares in the last quarter. McNamara Financial Services Inc. acquired a new position in shares of Cisco Systems in the 1st quarter valued at approximately $216,000. Finally, Procyon Advisors LLC raised its position in shares of Cisco Systems by 29.0% in the 1st quarter. Procyon Advisors LLC now owns 120,632 shares of the network equipment provider’s stock valued at $7,308,000 after buying an additional 27,104 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Up 2.2%

NASDAQ:CSCO opened at $66.06 on Friday. The firm’s fifty day moving average is $59.61 and its 200-day moving average is $60.34. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The firm has a market cap of $261.60 billion, a P/E ratio of 28.85, a P/E/G ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same period in the prior year, the firm posted $0.88 EPS. The company’s quarterly revenue was up 11.4% on a year-over-year basis. Equities analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems declared that its board has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.48%. Cisco Systems’s payout ratio is presently 66.94%.

Insider Activity at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares in the company, valued at $11,604,868.80. The trade was a 1.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the business’s stock in a transaction 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 in the company, valued at $44,478,105.49. The trade was a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,400 shares of company stock worth $4,564,439 in the last quarter. Company insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CSCO shares. Wells Fargo & Company raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $72.00 to $75.00 in a report on Thursday, May 15th. The Goldman Sachs Group lifted their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Rosenblatt Securities lifted their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Wall Street Zen raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and a consensus target price of $68.00.

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.