Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Fingerlakes Wealth Management Inc.

Fingerlakes Wealth Management Inc. reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 4,342 shares of the network equipment provider’s stock after selling 569 shares during the period. Fingerlakes Wealth Management Inc.’s holdings in Cisco Systems were worth $268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in CSCO. Brighton Jones LLC increased its stake 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 acquiring an additional 24,562 shares during the period. Revolve Wealth Partners LLC raised its holdings in Cisco Systems by 37.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock worth $542,000 after buying an additional 2,474 shares during the period. Proficio Capital Partners LLC boosted its position in shares of Cisco Systems by 76.4% in the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock worth $1,003,000 after buying an additional 7,338 shares during the period. Sequoia Financial Advisors LLC grew its stake in Cisco Systems by 17.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 156,043 shares of the network equipment provider’s stock valued at $9,238,000 after acquiring an additional 23,250 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Cisco Systems by 21.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 16,427 shares of the network equipment provider’s stock valued at $972,000 after acquiring an additional 2,863 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Cisco Systems news, 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 value of $612,330.50. Following the completion of the transaction, the executive vice president directly owned 181,186 shares of the company’s stock, valued at approximately $11,505,311. The trade was a 5.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer directly owned 688,409 shares in the company, valued at approximately $44,478,105.49. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,335 shares of company stock valued at $6,271,054. Insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 0.7%

Shares of CSCO opened at $68.76 on Friday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $69.78. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The stock has a 50 day simple moving average of $64.84 and a 200-day simple moving average of $61.75. The stock has a market cap of $272.29 billion, a PE ratio of 28.07, a PEG ratio of 4.14 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 26.48% and a net margin of 17.60%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the business earned $0.88 earnings per share. On average, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS 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. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.39%. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Analysts Set New Price Targets

CSCO has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, May 15th. KeyCorp assumed coverage on shares of Cisco Systems in a research report on Thursday, June 26th. They issued an “overweight” rating and a $77.00 target price for the company. Evercore ISI boosted 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. New Street Research reissued a “neutral” rating and set a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Finally, Wells Fargo & Company raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $69.53.

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.