Moran Wealth Management LLC Sells 210,490 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Moran Wealth Management LLC decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 39.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 322,181 shares of the network equipment provider’s stock after selling 210,490 shares during the period. Moran Wealth Management LLC’s holdings in Cisco Systems were worth $19,882,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Navigoe LLC bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $26,000. JDM Financial Group LLC increased its position 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 valued at $29,000 after acquiring an additional 300 shares in the last quarter. Runnymede Capital Advisors Inc. bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $30,000. Finally, Campbell Capital Management Inc. bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $31,000. Institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 4,185 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.51, for a total transaction of $265,789.35. Following the transaction, the senior vice president now directly owns 38,103 shares in the company, valued at approximately $2,419,921.53. This represents a 9.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the sale, the executive vice president now directly owns 181,186 shares of the company’s stock, valued at approximately $11,505,311. This trade represents a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,335 shares of company stock worth $6,271,054. Insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CSCO shares. New Street Research reissued a “neutral” rating and set a $70.00 price target on shares of Cisco Systems in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their target price for the stock from $65.00 to $73.00 in a research report on Monday, June 16th. Citigroup lifted 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. Evercore ISI lifted their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. Finally, Rosenblatt Securities lifted their target price 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. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $69.11.

Cisco Systems Stock Up 1.6%

Shares of CSCO stock opened at $67.38 on Tuesday. The stock has a market cap of $266.82 billion, a P/E ratio of 27.50, a PEG ratio of 3.97 and a beta of 0.88. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $67.93. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The company’s fifty day simple moving average is $61.58 and its two-hundred day simple moving average is $60.85.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the previous year, the firm posted $0.88 EPS. The business’s quarterly revenue was up 11.4% on a year-over-year basis. Analysts predict that Cisco Systems, Inc. will post 3.04 EPS 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 2.43%. Cisco Systems’s dividend payout ratio (DPR) is presently 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.