Cisco Systems, Inc. (NASDAQ:CSCO) Stake Trimmed by Schaper Benz & Wise Investment Counsel Inc. WI

Schaper Benz & Wise Investment Counsel Inc. WI lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 536,411 shares of the network equipment provider’s stock after selling 3,385 shares during the period. Cisco Systems accounts for 2.7% of Schaper Benz & Wise Investment Counsel Inc. WI’s investment portfolio, making the stock its 6th largest holding. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Cisco Systems were worth $33,102,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CSCO. Tallon Kerry Patrick bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $603,000. Brighton Jones LLC raised its position in shares of Cisco Systems by 49.5% during the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock valued at $4,392,000 after buying an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC raised its position in shares of Cisco Systems by 37.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock valued at $542,000 after buying an additional 2,474 shares during the last quarter. Congress Asset Management Co. raised its position in shares of Cisco Systems by 0.8% during the fourth quarter. Congress Asset Management Co. now owns 256,019 shares of the network equipment provider’s stock valued at $15,156,000 after buying an additional 1,992 shares during the last quarter. Finally, Principal Securities Inc. raised its position in shares of Cisco Systems by 25.3% during the fourth quarter. Principal Securities Inc. now owns 63,921 shares of the network equipment provider’s stock valued at $3,784,000 after buying an additional 12,889 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity

In other news, insider Jeetendra I. Patel sold 9,961 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the sale, the insider now directly owns 257,162 shares of the company’s stock, valued at approximately $16,450,653.14. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Oliver Tuszik sold 15,000 shares of the business’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the sale, the executive vice president now directly owns 131,676 shares of the company’s stock, valued at $8,365,376.28. This represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,931 shares of company stock valued at $4,671,930. 0.01% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CSCO. Rosenblatt Securities lifted their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. boosted their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. Citigroup boosted their price target 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. Wells Fargo & Company upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $72.00 to $75.00 in a research report 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 report on Friday, May 16th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.11.

Cisco Systems Trading Up 2.2%

CSCO stock opened at $65.51 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The stock has a market capitalization of $259.42 billion, a price-to-earnings ratio of 28.61, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. The firm’s fifty day simple moving average is $60.72 and its two-hundred day simple moving average is $60.62.

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

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is currently 66.94%.

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.