Valeo Financial Advisors LLC Sells 1,963 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Valeo Financial Advisors LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,769 shares of the network equipment provider’s stock after selling 1,963 shares during the period. Valeo Financial Advisors LLC’s holdings in Cisco Systems were worth $5,787,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC lifted its position in shares of Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock valued at $4,571,218,000 after buying an additional 13,285,052 shares during the last quarter. Norges Bank purchased a new stake in shares of Cisco Systems during the fourth quarter valued at about $3,297,905,000. Northern Trust Corp raised its position in shares of Cisco Systems by 11.4% in the 4th 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 raised its position in shares of Cisco Systems by 7.8% in the 4th 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 raised its position in shares of Cisco Systems by 2.4% in the 4th 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.

Cisco Systems Trading Down 0.4%

CSCO opened at $68.63 on Tuesday. The stock has a market cap of $271.77 billion, a PE ratio of 27.98, a PEG ratio of 4.15 and a beta of 0.90. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The business has a 50 day moving average of $64.18 and a 200-day moving average of $61.58. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $69.78.

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

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.39%. Cisco Systems’s payout ratio is 66.94%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CSCO. New Street Research restated a “neutral” rating and set a $70.00 price objective on shares of Cisco Systems in a research note on Friday, May 16th. Wall Street Zen upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Wolfe Research started coverage on shares of Cisco Systems in a research note on Tuesday. They set a “peer perform” rating for the company. Morgan Stanley reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, KeyCorp started coverage on shares of Cisco Systems in a research note on Thursday, June 26th. They set an “overweight” rating and a $77.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.53.

Insiders Place Their Bets

In related news, insider Jeetendra I. Patel sold 9,961 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.97, for a total value of $637,205.17. Following the sale, the insider directly owned 257,162 shares in the company, valued at approximately $16,450,653.14. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Oliver Tuszik sold 15,000 shares of the business’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total value of $952,950.00. Following the completion of the sale, the executive vice president owned 131,676 shares in the company, valued at $8,365,376.28. This represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,335 shares of company stock valued at $6,271,054. 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.