Prosperity Consulting Group LLC Sells 1,803 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Prosperity Consulting Group LLC lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 54,007 shares of the network equipment provider’s stock after selling 1,803 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Cisco Systems were worth $3,333,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kornitzer Capital Management Inc. KS raised its holdings in shares of Cisco Systems by 0.7% during the first quarter. Kornitzer Capital Management Inc. KS now owns 892,064 shares of the network equipment provider’s stock valued at $55,049,000 after acquiring an additional 6,501 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Cisco Systems by 10.8% during the first quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider’s stock valued at $389,000 after acquiring an additional 612 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Cisco Systems by 28.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider’s stock valued at $249,180,000 after acquiring an additional 904,548 shares in the last quarter. Investment Management Corp of Ontario raised its holdings in shares of Cisco Systems by 44.6% during the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider’s stock valued at $11,454,000 after acquiring an additional 59,680 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in shares of Cisco Systems by 2.6% during the first quarter. IFP Advisors Inc now owns 111,510 shares of the network equipment provider’s stock valued at $6,882,000 after acquiring an additional 2,839 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 0.6%

NASDAQ CSCO opened at $68.69 on Monday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.78. The stock has a market cap of $272.01 billion, a P/E ratio of 28.04, a P/E/G ratio of 4.11 and a beta of 0.90. The stock’s fifty day moving average price is $66.43 and its 200-day moving average price is $62.46. 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 (NASDAQ:CSCO) last released 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. 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 for the quarter, compared to analysts’ expectations of $14.05 billion. During the same period in the prior year, the firm posted $0.88 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were paid a $0.41 dividend. The ex-dividend date of this dividend was 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 currently 66.94%.

Insider Transactions at Cisco Systems

In related news, CFO Richard Scott Herren sold 15,678 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total value of $154,072.07. Following the sale, the executive vice president directly owned 177,027 shares in the company, valued at $11,331,498.27. This trade represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CSCO shares. Wolfe Research started coverage on Cisco Systems in a report on Tuesday, July 8th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. upped their target price on Cisco Systems from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Morgan Stanley upped their target price on Cisco Systems from $67.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, July 18th. KeyCorp started coverage on Cisco Systems in a report on Thursday, June 26th. They set an “overweight” rating and a $77.00 target price for the company. Finally, Barclays restated an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $70.35.

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.