Archford Capital Strategies LLC Lowers Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Archford Capital Strategies LLC cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 16,171 shares of the network equipment provider’s stock after selling 1,154 shares during the period. Archford Capital Strategies LLC’s holdings in Cisco Systems were worth $998,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Norges Bank purchased a new position in Cisco Systems in the 4th quarter worth approximately $3,297,905,000. FMR LLC raised its stake in shares of Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock worth $4,571,218,000 after purchasing an additional 13,285,052 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Cisco Systems in the fourth quarter worth $560,722,000. Alyeska Investment Group L.P. purchased a new position in shares of Cisco Systems in the fourth quarter worth $413,491,000. Finally, GAMMA Investing LLC raised its position in Cisco Systems by 7,096.5% in the 1st quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider’s stock worth $414,593,000 after buying an additional 6,625,045 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CSCO shares. Citigroup boosted their target price on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. JPMorgan Chase & Co. boosted their target price 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. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Finally, Evercore ISI upped their price objective on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and an average price target of $69.11.

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 29,784 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the sale, the chief executive officer now owns 688,409 shares in the company, valued at approximately $44,478,105.49. This trade represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the sale, the executive vice president now owns 174,669 shares of the company’s stock, valued at $11,447,806.26. This represents a 4.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,335 shares of company stock worth $6,271,054. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO opened at $68.19 on Thursday. The business has a 50-day simple moving average of $62.04 and a two-hundred day simple moving average of $60.95. The stock has a market cap of $270.03 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 4.06 and a beta of 0.88. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $68.60. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) 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%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 EPS. 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 declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.41%. Cisco Systems’s payout ratio is presently 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.