Cisco Systems, Inc. (NASDAQ:CSCO) Stake Trimmed by Net Worth Advisory Group

Net Worth Advisory Group lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,848 shares of the network equipment provider’s stock after selling 2,354 shares during the quarter. Cisco Systems makes up 0.7% of Net Worth Advisory Group’s investment portfolio, making the stock its 23rd largest holding. Net Worth Advisory Group’s holdings in Cisco Systems were worth $2,089,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Evercore ISI raised their price target on Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. raised their price target 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, Wells Fargo & Company raised Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $72.00 to $75.00 in a research 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. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Insider Activity at Cisco Systems

In other Cisco Systems news, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.97, for a total value of $637,205.17. Following the transaction, the insider now owns 257,162 shares in the company, valued at approximately $16,450,653.14. This represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the completion of the sale, the executive vice president now directly owns 181,186 shares of the company’s stock, valued at approximately $11,505,311. This trade represents a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,573 shares of company stock worth $4,392,619 in the last 90 days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 1.5%

NASDAQ CSCO opened at $64.19 on Thursday. The business’s 50-day moving average price is $60.04 and its two-hundred day moving average price is $60.49. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The firm has a market capitalization of $254.19 billion, a PE ratio of 28.03, a price-to-earnings-growth 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 (NASDAQ:CSCO) last released its quarterly earnings results 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 return on equity of 26.08% and a net margin of 16.96%. The firm had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the previous year, the company posted $0.88 EPS. The business’s revenue was up 11.4% on a year-over-year basis. On average, analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The firm 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 annualized dividend and a dividend yield of 2.55%. Cisco Systems’s payout ratio is 66.94%.

Cisco Systems announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.