CHURCHILL MANAGEMENT Corp Has $1.55 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

CHURCHILL MANAGEMENT Corp reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 73.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,090 shares of the network equipment provider’s stock after selling 86,557 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in Cisco Systems were worth $1,552,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Meyer Handelman Co. grew its position in shares of Cisco Systems by 0.5% during the 1st quarter. Meyer Handelman Co. now owns 624,766 shares of the network equipment provider’s stock worth $31,182,000 after buying an additional 2,863 shares during the period. Tealwood Asset Management Inc. grew its position in shares of Cisco Systems by 0.9% during the 1st quarter. Tealwood Asset Management Inc. now owns 46,852 shares of the network equipment provider’s stock worth $2,338,000 after buying an additional 433 shares during the period. RFG Advisory LLC grew its position in shares of Cisco Systems by 2.4% during the 1st quarter. RFG Advisory LLC now owns 42,135 shares of the network equipment provider’s stock worth $2,103,000 after buying an additional 990 shares during the period. PFW Advisors LLC grew its position in shares of Cisco Systems by 1.4% in the 1st quarter. PFW Advisors LLC now owns 39,007 shares of the network equipment provider’s stock valued at $1,947,000 after purchasing an additional 539 shares during the period. Finally, Shilanski & Associates Inc. grew its position in shares of Cisco Systems by 0.3% in the 1st quarter. Shilanski & Associates Inc. now owns 93,004 shares of the network equipment provider’s stock valued at $4,642,000 after purchasing an additional 288 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Trading Up 1.2 %

Shares of Cisco Systems stock opened at $47.29 on Friday. Cisco Systems, Inc. has a 12-month low of $44.95 and a 12-month high of $58.19. The stock has a market cap of $190.52 billion, a P/E ratio of 15.92, a P/E/G ratio of 2.71 and a beta of 0.85. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average is $47.14 and its 200-day moving average is $48.84.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $12.53 billion. During the same quarter in the prior year, the business earned $0.88 EPS. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. Equities research analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value of $155,016.42. Following the sale, the senior vice president now owns 52,953 shares in the company, valued at approximately $2,430,013.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 3,378 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total value of $155,016.42. Following the completion of the transaction, the senior vice president now directly owns 52,953 shares in the company, valued at $2,430,013.17. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,106 shares of company stock worth $1,908,923. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CSCO shares. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $55.00 to $60.00 in a research report on Monday, April 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a research report on Monday, May 13th. Finally, Oppenheimer upped their price target on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $56.47.

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.