Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Center for Financial Planning Inc.

Center for Financial Planning Inc. trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,707 shares of the network equipment provider’s stock after selling 570 shares during the period. Center for Financial Planning Inc.’s holdings in Cisco Systems were worth $661,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock valued at $4,571,218,000 after acquiring an additional 13,285,052 shares during the last quarter. Norges Bank acquired a new stake in Cisco Systems during the fourth quarter valued at approximately $3,297,905,000. Northern Trust Corp lifted its stake in Cisco Systems by 11.4% during the fourth quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider’s stock valued at $2,796,505,000 after purchasing an additional 4,832,813 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Cisco Systems by 7.8% during the fourth 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 valued at $2,159,099,000 after purchasing an additional 2,637,006 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Cisco Systems by 2.4% during the fourth 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 during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Up 0.7%

CSCO opened at $66.32 on Friday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.65. The business has a 50-day moving average of $61.38 and a 200-day moving average of $60.79. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The company has a market capitalization of $262.63 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of 3.97 and a beta of 0.88.

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

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.47%. Cisco Systems’s dividend payout ratio (DPR) is currently 66.94%.

Analyst Ratings Changes

A number of brokerages have recently commented on CSCO. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the company from $65.00 to $73.00 in a research report on Monday, June 16th. Wall Street Zen raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. Citigroup upped their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. upped their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, May 15th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.11.

Insider Buying and Selling at Cisco Systems

In related news, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value 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. This trade represents a 4.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thimaya K. Subaiya sold 8,726 shares of Cisco Systems stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the completion of the transaction, the executive vice president now owns 174,669 shares in the company, valued at $11,447,806.26. This trade represents a 4.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock worth $6,271,054 over the last three months. Corporate insiders own 0.01% of the company’s stock.

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.