AHL Investment Management Inc. Sells 2,070 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

AHL Investment Management Inc. lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,352 shares of the network equipment provider’s stock after selling 2,070 shares during the quarter. Cisco Systems makes up approximately 1.4% of AHL Investment Management Inc.’s holdings, making the stock its 26th biggest holding. AHL Investment Management Inc.’s holdings in Cisco Systems were worth $1,996,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc increased its stake in Cisco Systems by 8.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock valued at $123,000 after purchasing an additional 166 shares during the last quarter. Fairhaven Wealth Management LLC boosted its holdings in shares of Cisco Systems by 2.3% in the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock valued at $449,000 after buying an additional 167 shares during the period. BlackDiamond Wealth Management LLC grew its position in shares of Cisco Systems by 3.1% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock valued at $335,000 after buying an additional 168 shares during the last quarter. Legacy Financial Group Inc. raised its stake in Cisco Systems by 3.4% during the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock worth $302,000 after acquiring an additional 169 shares during the period. Finally, Maple Capital Management Inc. raised its stake in Cisco Systems by 1.4% during the fourth quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock worth $709,000 after acquiring an additional 170 shares during the period. 73.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CSCO shares. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. UBS Group boosted their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Rosenblatt Securities upped their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Evercore ISI boosted their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Finally, New Street Research restated a “neutral” rating and issued a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Cisco Systems Price Performance

NASDAQ CSCO opened at $66.06 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The stock has a market capitalization of $261.60 billion, a P/E ratio of 28.85, a P/E/G ratio of 4.16 and a beta of 0.88. The business’s fifty day moving average is $59.61 and its two-hundred day moving average is $60.38.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same period last year, the company posted $0.88 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, 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 announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a $0.41 dividend. 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 2.48%. Cisco Systems’s payout ratio is currently 66.94%.

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

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now owns 191,184 shares in the company, valued at $11,604,868.80. This trade represents a 1.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the transaction, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. The trade was a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,400 shares of company stock valued at $4,564,439 over the last quarter. Company insiders own 0.01% of the company’s stock.

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.