Cisco Systems, Inc. (NASDAQ:CSCO) Position Lifted by Weaver Capital Management LLC

Weaver Capital Management LLC grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,359 shares of the network equipment provider’s stock after acquiring an additional 328 shares during the period. Cisco Systems comprises approximately 0.8% of Weaver Capital Management LLC’s holdings, making the stock its 28th biggest position. Weaver Capital Management LLC’s holdings in Cisco Systems were worth $3,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of CSCO. FPC Investment Advisory Inc. bought a new stake in Cisco Systems during the fourth quarter valued at $26,000. Navigoe LLC acquired a new position in shares of Cisco Systems in the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Cisco Systems in the 4th quarter valued at about $26,000. JDM Financial Group LLC grew its position in shares of Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after buying an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Cisco Systems during the fourth quarter worth about $30,000. Institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 688,409 shares of the company’s stock, valued at approximately $44,478,105.49. This represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total transaction of $48,821.34. Following the completion of the transaction, the senior vice president now owns 36,937 shares of the company’s stock, valued at approximately $2,366,553.59. The trade was a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock valued at $6,271,054 in the last three months. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $66.32 on Friday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.65. 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 cap of $262.63 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of 3.94 and a beta of 0.88. The company’s 50-day moving average price is $61.38 and its two-hundred day moving average price is $60.78.

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. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. 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 2.47%. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Analyst Upgrades and Downgrades

CSCO has been the topic of several recent research reports. Wells Fargo & Company raised Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Citigroup boosted their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Evercore ISI raised their target price on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Rosenblatt Securities boosted their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Finally, Wall Street Zen raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.11.

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.