Core Wealth Partners LLC Sells 3,119 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Core Wealth Partners LLC lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 15.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 16,575 shares of the network equipment provider’s stock after selling 3,119 shares during the period. Core Wealth Partners LLC’s holdings in Cisco Systems were worth $1,023,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. AIA Group Ltd increased its position in Cisco Systems by 62.6% in the 1st quarter. AIA Group Ltd now owns 60,907 shares of the network equipment provider’s stock valued at $3,759,000 after acquiring an additional 23,459 shares in the last quarter. Longfellow Investment Management Co. LLC grew its stake in shares of Cisco Systems by 16.9% during the first quarter. Longfellow Investment Management Co. LLC now owns 21,515 shares of the network equipment provider’s stock valued at $1,328,000 after purchasing an additional 3,114 shares during the last quarter. Meridian Wealth Management LLC increased its holdings in shares of Cisco Systems by 0.9% in the first quarter. Meridian Wealth Management LLC now owns 21,759 shares of the network equipment provider’s stock valued at $1,341,000 after purchasing an additional 196 shares in the last quarter. Independent Advisor Alliance lifted its holdings in Cisco Systems by 1.8% during the 1st quarter. Independent Advisor Alliance now owns 105,026 shares of the network equipment provider’s stock worth $6,481,000 after buying an additional 1,871 shares in the last quarter. Finally, Cove Private Wealth LLC lifted its holdings in Cisco Systems by 34.3% during the 1st quarter. Cove Private Wealth LLC now owns 18,443 shares of the network equipment provider’s stock worth $1,138,000 after buying an additional 4,713 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Trading Down 1.5%

CSCO opened at $70.69 on Tuesday. 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 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 12 month low of $44.50 and a 12 month high of $72.55. The firm’s fifty day simple moving average is $67.63 and its 200 day simple moving average is $63.11.

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

Cisco Systems Announces Dividend

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

Insider Activity

In related news, EVP Deborah L. Stahlkopf sold 9,643 shares of the stock in a transaction 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 owned 181,186 shares in the company, valued at approximately $11,505,311. This represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the transaction, the chief executive officer directly owned 688,409 shares of the company’s stock, valued at approximately $44,478,105.49. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CSCO shares. JPMorgan Chase & Co. boosted their target price on Cisco Systems from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. CICC Research assumed coverage on Cisco Systems in a report on Monday, July 14th. They set an “outperform” rating and a $78.00 price objective for the company. Wall Street Zen lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 12th. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the stock from $65.00 to $73.00 in a research note on Monday, June 16th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Eight research 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $70.55.

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.