Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by InTrack Investment Management Inc

InTrack Investment Management Inc reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 22.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 4,218 shares of the network equipment provider’s stock after selling 1,219 shares during the quarter. InTrack Investment Management Inc’s holdings in Cisco Systems were worth $210,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Norges Bank bought a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $2,528,939,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Cisco Systems by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after purchasing an additional 6,345,954 shares during the period. FIL Ltd raised its holdings in shares of Cisco Systems by 47.1% during the fourth quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after purchasing an additional 6,054,748 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Cisco Systems by 29.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 17,727,214 shares of the network equipment provider’s stock worth $895,576,000 after buying an additional 3,989,543 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of Cisco Systems by 25.0% in the 4th quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock valued at $947,262,000 after buying an additional 3,753,165 shares during the period. Institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Morgan Stanley started coverage on shares of Cisco Systems in a report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price on the stock. Oppenheimer boosted their price objective on Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. BNP Paribas raised Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a research report on Monday, May 13th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. Finally, Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $55.00 to $60.00 in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Cisco Systems has an average rating of “Hold” and a consensus target price of $56.47.

Insiders Place Their Bets

In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the sale, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the transaction, the executive vice president now directly owns 180,705 shares in the company, valued at approximately $8,717,209.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the sale, the executive vice president now directly owns 176,384 shares in the company, valued at $7,997,250.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,106 shares of company stock worth $1,908,923. 0.02% of the stock is owned by insiders.

Cisco Systems Stock Down 0.5 %

Shares of CSCO stock opened at $47.28 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The stock has a market cap of $190.48 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 2.75 and a beta of 0.85. The business’s fifty day moving average is $47.05 and its 200-day moving average is $48.77. Cisco Systems, Inc. has a 1 year low of $44.95 and a 1 year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period in the previous year, the company earned $0.88 earnings per share. Cisco Systems’s revenue was down 12.8% compared to the same quarter last year. Equities analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s payout ratio is 53.87%.

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.