AGF Management Ltd. Has $39.40 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

AGF Management Ltd. reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 638,521 shares of the network equipment provider’s stock after selling 20,472 shares during the quarter. AGF Management Ltd.’s holdings in Cisco Systems were worth $39,403,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Navigoe LLC bought a new stake in shares of Cisco Systems during the 4th quarter worth $26,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Cisco Systems during the fourth quarter worth $26,000. JDM Financial Group LLC grew its stake in shares of Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after buying an additional 300 shares during the last quarter. Pandora Wealth Inc. bought a new stake in shares of Cisco Systems during the first quarter worth $31,000. Finally, Fairway Wealth LLC grew its stake in shares of Cisco Systems by 224.7% during the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider’s stock worth $36,000 after buying an additional 400 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Trading Down 1.5%

NASDAQ CSCO opened at $70.69 on Tuesday. The business has a 50 day simple moving average of $67.63 and a 200 day simple moving average of $63.11. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $72.55. The stock has a market capitalization of $279.92 billion, a P/E ratio of 28.85, a P/E/G ratio of 3.98 and a beta of 0.91. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87.

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

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is 66.94%.

Insider Transactions 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 stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the completion of the sale, the executive vice president owned 174,669 shares of the company’s stock, valued at approximately $11,447,806.26. This trade represents a 4.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 15,678 shares of the firm’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the sale, the chief financial officer directly owned 309,543 shares of the company’s stock, valued at $20,281,257.36. This trade represents a 4.82% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,335 shares of company stock valued at $6,271,054. Company insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CSCO. Wolfe Research began coverage on Cisco Systems in a research report on Tuesday, July 8th. They issued a “peer perform” rating for the company. Morgan Stanley increased their target price on Cisco Systems from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. Wall Street Zen downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 12th. JPMorgan Chase & Co. increased their target price on Cisco Systems from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Finally, Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Eight analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.55.

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.