Fishman Jay A Ltd. MI Cuts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Fishman Jay A Ltd. MI trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 31.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,430 shares of the network equipment provider’s stock after selling 2,500 shares during the period. Fishman Jay A Ltd. MI’s holdings in Cisco Systems were worth $335,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CSCO. FPC Investment Advisory Inc. purchased a new position in shares of Cisco Systems in the 4th quarter worth $26,000. Navigoe LLC purchased a new position in shares of Cisco Systems in the 4th quarter worth $26,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Cisco Systems in the 4th quarter worth $26,000. JDM Financial Group LLC boosted its stake in shares of Cisco Systems by 160.4% in the 4th 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. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of Cisco Systems in the 4th quarter worth $30,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on CSCO. Wall Street Zen upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Morgan Stanley reaffirmed a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. JPMorgan Chase & Co. raised their target price on Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. Rosenblatt Securities raised their target price on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Finally, Citigroup raised their target price on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.11.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $66.32 on Friday. 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 company has a market capitalization of $262.63 billion, a P/E ratio of 27.07, a P/E/G ratio of 3.94 and a beta of 0.88. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.65. The business’s 50-day moving average is $61.38 and its 200 day moving average is $60.78.

Cisco Systems (NASDAQ:CSCO) last announced its 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. 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 analyst estimates of $14.05 billion. During the same quarter in the previous year, the business earned $0.88 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.47%. Cisco Systems’s payout ratio is 66.94%.

Insider Activity at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 8,726 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total value of $571,902.04. Following the completion of the transaction, the executive vice president now owns 174,669 shares of the company’s stock, valued at $11,447,806.26. The trade was a 4.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was 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 now directly owns 688,409 shares of the company’s stock, valued at $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 sold 97,335 shares of company stock worth $6,271,054. Company insiders own 0.01% of the company’s stock.

About Cisco Systems

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.