Forte Capital LLC ADV Cuts Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Forte Capital LLC ADV cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,693 shares of the network equipment provider’s stock after selling 506 shares during the period. Forte Capital LLC ADV’s holdings in Cisco Systems were worth $3,992,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CSCO. Commerzbank Aktiengesellschaft FI raised its stake in shares of Cisco Systems by 1.2% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 1,603,771 shares of the network equipment provider’s stock valued at $98,969,000 after acquiring an additional 19,435 shares during the last quarter. Forum Financial Management LP raised its stake in shares of Cisco Systems by 2.1% during the first quarter. Forum Financial Management LP now owns 42,037 shares of the network equipment provider’s stock valued at $2,594,000 after acquiring an additional 869 shares during the last quarter. Members Trust Co increased its position in shares of Cisco Systems by 19.4% during the first quarter. Members Trust Co now owns 11,118 shares of the network equipment provider’s stock valued at $686,000 after buying an additional 1,810 shares during the period. Woodward Diversified Capital LLC increased its position in shares of Cisco Systems by 3.9% during the first quarter. Woodward Diversified Capital LLC now owns 15,889 shares of the network equipment provider’s stock valued at $981,000 after buying an additional 595 shares during the period. Finally, Concord Wealth Partners increased its position in shares of Cisco Systems by 419.3% during the first quarter. Concord Wealth Partners now owns 14,479 shares of the network equipment provider’s stock valued at $893,000 after buying an additional 11,691 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

Cisco Systems stock opened at $67.37 on Thursday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $69.78. The stock has a market cap of $266.79 billion, a P/E ratio of 27.50, a PEG ratio of 4.02 and a beta of 0.90. The company has a 50-day moving average price of $65.50 and a 200 day moving average price of $61.96. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. Cisco Systems’s revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 earnings per share. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s payout ratio is 66.94%.

Insider Buying and Selling

In related news, EVP Oliver Tuszik sold 15,000 shares of the business’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the sale, the executive vice president directly owned 131,676 shares in the company, valued at $8,365,376.28. The trade was a 10.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the transaction, the chief executive officer owned 688,409 shares in the company, valued at approximately $44,478,105.49. This trade represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock valued at $6,271,054 over the last ninety days. 0.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on CSCO. Morgan Stanley reiterated a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. KeyCorp initiated 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. Wall Street Zen cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 12th. Rosenblatt Securities raised their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Finally, Wells Fargo & Company upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.95.

Cisco Systems Company 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.