Xponance Inc. Sells 22,048 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Xponance Inc. reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 656,648 shares of the network equipment provider’s stock after selling 22,048 shares during the period. Xponance Inc.’s holdings in Cisco Systems were worth $40,522,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Navigoe LLC bought a new stake in Cisco Systems during the 4th quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $26,000. JDM Financial Group LLC grew 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. Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems during the 4th quarter valued at $30,000. Finally, Campbell Capital Management Inc. bought a new stake in Cisco Systems in the 4th quarter valued at $31,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSCO has been the topic of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. Evercore ISI boosted their price target on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Rosenblatt Securities upped their price target on Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, New Street Research restated a “neutral” rating and issued a $70.00 target price on shares of Cisco Systems in a research note on Friday, May 16th. 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. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and an average target price of $69.53.

Insider Buying and Selling at Cisco Systems

In related news, insider Jeetendra I. Patel sold 9,961 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the completion of the sale, the insider owned 257,162 shares of the company’s stock, valued at $16,450,653.14. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Oliver Tuszik sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total value of $952,950.00. Following the transaction, the executive vice president directly owned 131,676 shares in the company, valued at approximately $8,365,376.28. This represents a 10.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock worth $6,271,054 over the last quarter. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $68.76 on Friday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $69.78. The firm’s 50-day moving average price is $64.84 and its two-hundred day moving average price is $61.75. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $272.29 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 4.14 and a beta of 0.90.

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

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued 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 dividend yield of 2.39%. Cisco Systems’s dividend payout ratio is 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.