Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Wedmont Private Capital

Wedmont Private Capital lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 16.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,349 shares of the network equipment provider’s stock after selling 5,255 shares during the quarter. Wedmont Private Capital’s holdings in Cisco Systems were worth $1,296,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of CSCO. Charles Schwab Investment Management Inc. boosted its holdings in Cisco Systems by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock valued at $3,672,445,000 after purchasing an additional 6,345,954 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Cisco Systems by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 68,463,463 shares of the network equipment provider’s stock valued at $3,417,011,000 after purchasing an additional 2,386,508 shares during the last quarter. Norges Bank bought a new position in Cisco Systems during the 4th quarter worth approximately $2,528,939,000. Wellington Management Group LLP lifted its holdings in Cisco Systems by 7.6% during the 4th quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock worth $2,384,334,000 after buying an additional 3,314,330 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Cisco Systems by 12.3% during the 4th quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock worth $1,260,033,000 after buying an additional 2,723,260 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 8,016 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the sale, the executive vice president now owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Deborah L. Stahlkopf sold 8,016 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the sale, the executive vice president now owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 3,378 shares of Cisco Systems stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total value of $155,016.42. Following the sale, the senior vice president now directly owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The disclosure for this sale can be found here. Insiders sold a total of 41,106 shares of company stock valued at $1,908,923 over the last quarter. Company insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

CSCO traded up $0.43 during trading hours on Tuesday, hitting $45.29. The company’s stock had a trading volume of 13,906,638 shares, compared to its average volume of 19,603,945. The firm has a market capitalization of $182.47 billion, a PE ratio of 15.23, a PEG ratio of 2.97 and a beta of 0.85. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The company has a 50-day simple moving average of $46.67 and a 200 day simple moving average of $47.99. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $58.19.

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

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend was Friday, July 5th. Cisco Systems’s dividend payout ratio is presently 53.87%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Barclays increased their target price on Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, May 17th. JPMorgan Chase & Co. assumed coverage on Cisco Systems in a report on Monday, April 22nd. They set a “neutral” rating and a $53.00 target price on the stock. Finally, Oppenheimer increased their target price on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. One equities 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $56.47.

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.