CHURCHILL MANAGEMENT Corp Reduces Position in Cisco Systems, Inc. (NASDAQ:CSCO)

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

Other large investors also recently modified their holdings of the company. Valued Wealth Advisors LLC purchased a new position in shares of Cisco Systems in the 4th quarter valued at $32,000. Delos Wealth Advisors LLC grew its position in shares of Cisco Systems by 1,666.7% in the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after buying an additional 600 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in shares of Cisco Systems in the 4th quarter valued at $33,000. Morton Brown Family Wealth LLC grew its position in shares of Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 208 shares during the last quarter. Finally, Bourgeon Capital Management LLC grew its position in shares of Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 700 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price target for the stock from $55.00 to $60.00 in a research note on Monday, April 15th. BNP Paribas upgraded shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research note on Monday, May 13th. Barclays increased their price target on shares of Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, May 17th. JPMorgan Chase & Co. assumed coverage on shares of Cisco Systems in a research note on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Monday, June 10th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Hold” and a consensus target price of $56.47.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $47.29 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $47.14 and a two-hundred day moving average price of $48.84. Cisco Systems, Inc. has a twelve month low of $44.95 and a twelve month high of $58.19. The company has a market capitalization of $190.52 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 2.71 and a beta of 0.85.

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

Cisco Systems Dividend Announcement

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

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the sale, the senior vice president now directly owns 51,788 shares in the company, valued at $2,352,210.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the sale, the senior vice president now directly owns 51,788 shares in the company, valued at $2,352,210.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the sale, the executive vice president now owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,106 shares of company stock worth $1,908,923. 0.02% of the stock is owned by company 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.