Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Breakwater Capital Group

Breakwater Capital Group decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.1% during the 1st quarter, Holdings Channel reports. The fund owned 8,722 shares of the network equipment provider’s stock after selling 980 shares during the quarter. Breakwater Capital Group’s holdings in Cisco Systems were worth $435,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Cisco Systems by 1,096.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock valued at $146,845,000 after purchasing an additional 2,663,676 shares during the last quarter. Roble Belko & Company Inc increased its stake in Cisco Systems by 77.1% in the fourth quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock valued at $324,000 after purchasing an additional 2,788 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Cisco Systems in the fourth quarter valued at approximately $28,685,000. Adage Capital Partners GP L.L.C. increased its stake in Cisco Systems by 1.1% in the third quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock valued at $240,335,000 after purchasing an additional 49,700 shares during the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC increased its stake in Cisco Systems by 0.6% in the fourth quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 192,674 shares of the network equipment provider’s stock valued at $9,734,000 after purchasing an additional 1,097 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Up 0.1 %

NASDAQ:CSCO opened at $47.51 on Monday. The company has a market capitalization of $191.41 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 2.75 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. Cisco Systems, Inc. has a 52-week low of $44.95 and a 52-week high of $58.19. The stock has a fifty day simple moving average of $47.06 and a 200-day simple moving average of $48.78.

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

Cisco Systems Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s payout ratio is 53.87%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CSCO. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their target price for the stock from $55.00 to $60.00 in a research report on Monday, April 15th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 9th. Morgan Stanley began coverage on shares of Cisco Systems in a research report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price on the stock. Finally, BNP Paribas upgraded shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a research report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and an average target price of $56.47.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the transaction, the executive vice president now owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,619 shares of Cisco Systems stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the sale, the executive vice president now owns 176,384 shares in the company, valued at approximately $7,997,250.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the sale, the chief executive officer now owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,106 shares of company stock valued at $1,908,923. 0.02% of the stock is owned by insiders.

Cisco Systems 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.