Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 26.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 400,128 shares of the network equipment provider’s stock after selling 140,898 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Cisco Systems were worth $24,692,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. FPC Investment Advisory Inc. acquired a new stake in Cisco Systems in the 4th quarter worth about $26,000. Navigoe LLC acquired a new stake in Cisco Systems in the 4th quarter worth about $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems in the 4th quarter worth about $26,000. JDM Financial Group LLC boosted its stake in shares of Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after acquiring an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Cisco Systems in the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CSCO. JPMorgan Chase & Co. lifted their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, May 15th. Rosenblatt Securities boosted their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Wall Street Zen upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the stock from $65.00 to $73.00 in a report on Monday, June 16th. Finally, Citigroup boosted their target price on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $69.11.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,726 shares of the firm’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total value of $571,902.04. Following the completion of the transaction, the executive vice president now owns 174,669 shares of the company’s stock, valued at $11,447,806.26. This trade represents a 4.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the firm’s stock in a transaction that occurred 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 directly owns 181,186 shares of the company’s stock, valued at $11,505,311. This represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock worth $6,271,054 in the last three months. 0.01% of the stock is owned by company insiders.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $66.32 on Friday. The stock has a market cap of $262.63 billion, a PE ratio of 27.07, a P/E/G ratio of 3.97 and a beta of 0.88. 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, Inc. has a twelve month low of $44.50 and a twelve month high of $66.65. The stock has a fifty day simple moving average of $61.38 and a 200-day simple moving average of $60.79.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion during 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%. Cisco Systems’s revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 earnings per share. Equities analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

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

Cisco Systems 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.