Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Alpine Woods Capital Investors LLC

Alpine Woods Capital Investors LLC cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,114 shares of the network equipment provider’s stock after selling 606 shares during the quarter. Alpine Woods Capital Investors LLC’s holdings in Cisco Systems were worth $1,426,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Cisco Systems in the fourth quarter worth about $3,297,905,000. FMR LLC boosted its position in shares of Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock worth $4,571,218,000 after buying an additional 13,285,052 shares during the period. Alyeska Investment Group L.P. purchased a new stake in shares of Cisco Systems in the fourth quarter worth about $413,491,000. GAMMA Investing LLC boosted its position in shares of Cisco Systems by 7,096.5% in the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider’s stock worth $414,593,000 after buying an additional 6,625,045 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Cisco Systems by 187.9% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider’s stock worth $442,749,000 after buying an additional 4,880,747 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CSCO. Wall Street Zen raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. Wolfe Research began coverage on Cisco Systems in a report on Tuesday. They issued a “peer perform” rating for the company. Rosenblatt Securities increased their price target on Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, May 15th. KeyCorp began coverage on Cisco Systems in a report on Thursday, June 26th. They issued an “overweight” rating and a $77.00 price target for the company. Finally, Barclays reissued an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and an average target price of $69.53.

Insider Buying and Selling

In other news, CFO Richard Scott Herren sold 15,678 shares of the business’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the transaction, the chief financial officer owned 309,543 shares of the company’s stock, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction, the executive vice president owned 131,676 shares in the company, valued at $8,365,376.28. This trade represents a 10.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock valued at $6,271,054 in the last 90 days. 0.01% of the stock is owned by insiders.

Cisco Systems Price Performance

CSCO stock opened at $69.27 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $69.78. The firm’s fifty day moving average is $64.63 and its 200 day moving average is $61.68. The firm has a market cap of $274.31 billion, a P/E ratio of 28.27, a P/E/G ratio of 4.10 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results 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 net margin of 17.60% and a return on equity of 26.48%. Cisco Systems’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the company posted $0.88 EPS. Research analysts predict 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. Investors of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s payout ratio is 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.