Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by GTS Securities LLC

GTS Securities LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 76.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 43,454 shares of the network equipment provider’s stock after selling 141,380 shares during the period. GTS Securities LLC’s holdings in Cisco Systems were worth $2,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CSCO. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter worth $26,000. Navigoe LLC acquired a new stake in shares of Cisco Systems during the fourth quarter worth $26,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Cisco Systems during the fourth quarter worth $26,000. JDM Financial Group LLC lifted its holdings in shares of Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after purchasing an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter worth $30,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CSCO. Wells Fargo & Company upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Citigroup boosted their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. New Street Research restated a “neutral” rating and set a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. UBS Group boosted their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Barclays restated an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and an average target price of $68.00.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares in the company, valued at approximately $2,693,013.45. The trade was a 1.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the sale, the executive vice president now owns 191,184 shares of the company’s stock, valued at $11,604,868.80. The trade was a 1.07% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,431 shares of company stock worth $1,421,356. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Trading Down 0.4%

Shares of CSCO stock opened at $63.11 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $251.07 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 4.16 and a beta of 0.89. The firm has a 50-day moving average price of $59.05 and a 200 day moving average price of $59.93. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. Research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.60%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is 66.94%.

Cisco Systems declared that its board has authorized a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.