LRI Investments LLC Sells 437 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

LRI Investments LLC decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,284 shares of the network equipment provider’s stock after selling 437 shares during the quarter. LRI Investments LLC’s holdings in Cisco Systems were worth $1,005,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CSCO. CWM LLC boosted its holdings in shares of Cisco Systems by 3.2% in the 1st quarter. CWM LLC now owns 1,161,868 shares of the network equipment provider’s stock valued at $71,699,000 after acquiring an additional 36,019 shares during the last quarter. TFR Capital LLC. boosted its holdings in shares of Cisco Systems by 109.3% in the 1st quarter. TFR Capital LLC. now owns 7,515 shares of the network equipment provider’s stock valued at $464,000 after acquiring an additional 3,925 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in shares of Cisco Systems in the 1st quarter valued at $112,000. Pittenger & Anderson Inc. boosted its holdings in shares of Cisco Systems by 1.7% in the 1st quarter. Pittenger & Anderson Inc. now owns 219,023 shares of the network equipment provider’s stock valued at $13,516,000 after acquiring an additional 3,675 shares during the last quarter. Finally, Stephens Inc. AR boosted its holdings in shares of Cisco Systems by 0.7% in the 1st quarter. Stephens Inc. AR now owns 511,402 shares of the network equipment provider’s stock valued at $31,559,000 after acquiring an additional 3,672 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $67.95 on Friday. The firm has a 50-day simple moving average of $65.02 and a 200-day simple moving average of $61.82. The stock has a market capitalization of $269.08 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 4.07 and a beta of 0.90. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $69.78.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating 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 business had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same period in the prior year, the business earned $0.88 earnings per share. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed 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. This represents a $1.64 annualized dividend and a yield of 2.41%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s payout ratio is currently 66.94%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CSCO shares. JPMorgan Chase & Co. increased their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. KeyCorp started coverage on shares of Cisco Systems in a report on Thursday, June 26th. They set an “overweight” rating and a $77.00 price target on the stock. Wolfe Research started coverage on shares of Cisco Systems in a report on Tuesday, July 8th. They set a “peer perform” rating on the stock. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Evercore ISI increased their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average price target of $69.53.

Insider Activity

In related news, CFO Richard Scott Herren sold 15,678 shares of the firm’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the sale, the chief financial officer directly owned 309,543 shares in the company, valued at approximately $20,281,257.36. This trade represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeetendra I. Patel sold 899 shares of the firm’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $64.27, for a total transaction of $57,778.73. Following the sale, the insider owned 255,377 shares of the company’s stock, valued at approximately $16,413,079.79. The trade was a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock valued at $6,271,054 in the last quarter. Insiders own 0.01% of the company’s stock.

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.