Cisco Systems, Inc. (NASDAQ:CSCO) Position Trimmed by Signet Financial Management LLC

Signet Financial Management LLC lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,319 shares of the network equipment provider’s stock after selling 2,767 shares during the quarter. Signet Financial Management LLC’s holdings in Cisco Systems were worth $1,254,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new position in Cisco Systems during the 4th quarter valued at about $26,000. Navigoe LLC acquired a new stake in shares of Cisco Systems during the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Cisco Systems during the 4th quarter valued at about $26,000. JDM Financial Group LLC lifted its holdings in shares of Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after buying an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Cisco Systems during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the sale, the chief executive officer now directly owns 688,409 shares in the company, valued at $44,478,105.49. This represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 4,185 shares of the company’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $63.51, for a total value of $265,789.35. Following the completion of the sale, the senior vice president now owns 38,103 shares in the company, valued at $2,419,921.53. This trade represents a 9.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,573 shares of company stock worth $4,392,619 over the last three months. Company insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CSCO. Citigroup lifted their price target on Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, May 15th. JPMorgan Chase & Co. lifted their price target on Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. New Street Research reiterated a “neutral” rating and set a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. Morgan Stanley reiterated a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Wells Fargo & Company upgraded 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. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $68.00.

Cisco Systems Stock Performance

CSCO opened at $65.15 on Wednesday. The stock has a market cap of $257.99 billion, a PE ratio of 28.45, a P/E/G ratio of 4.16 and a beta of 0.88. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The stock’s 50 day simple moving average is $59.85 and its 200-day simple moving average is $60.46.

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

Cisco Systems announced that its board has initiated a stock repurchase program 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 programs are typically a sign that the company’s board believes its stock is undervalued.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders 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 yield of 2.52%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is 66.94%.

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.