Indie Asset Partners LLC Cuts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Indie Asset Partners LLC reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,283 shares of the network equipment provider’s stock after selling 323 shares during the period. Indie Asset Partners LLC’s holdings in Cisco Systems were worth $203,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Picton Mahoney Asset Management raised its position in shares of Cisco Systems by 80,078.3% in the 1st quarter. Picton Mahoney Asset Management now owns 18,441 shares of the network equipment provider’s stock worth $1,138,000 after buying an additional 18,418 shares during the period. Physicians Financial Services Inc. grew its stake in shares of Cisco Systems by 0.9% during the first quarter. Physicians Financial Services Inc. now owns 32,751 shares of the network equipment provider’s stock valued at $2,021,000 after acquiring an additional 301 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its stake in Cisco Systems by 6.0% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 79,038 shares of the network equipment provider’s stock worth $4,877,000 after purchasing an additional 4,460 shares in the last quarter. New Republic Capital LLC grew its stake in Cisco Systems by 7.0% in the first quarter. New Republic Capital LLC now owns 12,075 shares of the network equipment provider’s stock worth $745,000 after purchasing an additional 793 shares in the last quarter. Finally, Pin Oak Investment Advisors Inc. grew its stake in Cisco Systems by 7.5% in the first quarter. Pin Oak Investment Advisors Inc. now owns 8,725 shares of the network equipment provider’s stock worth $531,000 after purchasing an additional 610 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Trading Down 1.1%

NASDAQ CSCO opened at $67.92 on Tuesday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The stock has a market cap of $268.96 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 4.11 and a beta of 0.90. The firm’s 50 day moving average price is $66.51 and its two-hundred day moving average price is $62.52.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. 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. Equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 66.94%.

Insiders Place Their Bets

In related news, CFO Richard Scott Herren sold 15,678 shares of Cisco Systems stock in a transaction 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 owned 309,543 shares of the company’s stock, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 8,726 shares of Cisco Systems stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total transaction of $571,902.04. Following the completion of the sale, the executive vice president directly owned 174,669 shares of the company’s stock, valued at approximately $11,447,806.26. The trade was a 4.76% 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 in the last 90 days. 0.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Morgan Stanley raised their target price on shares of Cisco Systems from $67.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. KeyCorp initiated coverage on Cisco Systems in a report on Thursday, June 26th. They set an “overweight” rating and a $77.00 price target on the stock. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Wolfe Research initiated coverage on shares of Cisco Systems in a research note on Tuesday, July 8th. They set a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. raised their price objective on shares of Cisco Systems from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Eight investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.35.

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.