Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by InTrack Investment Management Inc

InTrack Investment Management Inc cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 22.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,218 shares of the network equipment provider’s stock after selling 1,219 shares during the period. InTrack Investment Management Inc’s holdings in Cisco Systems were worth $210,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CSCO. Norges Bank acquired a new stake in shares of Cisco Systems in the fourth quarter valued at about $2,528,939,000. Charles Schwab Investment Management Inc. boosted its holdings in Cisco Systems by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after buying an additional 6,345,954 shares during the last quarter. FIL Ltd boosted its holdings in Cisco Systems by 47.1% in the 4th quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after buying an additional 6,054,748 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Cisco Systems by 29.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,727,214 shares of the network equipment provider’s stock valued at $895,576,000 after acquiring an additional 3,989,543 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Cisco Systems by 25.0% in the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock valued at $947,262,000 after acquiring an additional 3,753,165 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the subject of several recent research reports. Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the company from $55.00 to $60.00 in a research note on Monday, April 15th. Citigroup initiated coverage on shares of Cisco Systems in a research note on Friday, April 12th. They issued a “neutral” rating and a $52.00 price target on the stock. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Morgan Stanley assumed coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price on the stock. Finally, Barclays upped their price target on Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $56.47.

Insider Activity

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

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $47.28 on Wednesday. Cisco Systems, Inc. has a fifty-two week low of $44.95 and a fifty-two week high of $58.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The company has a 50 day moving average price of $47.05 and a 200 day moving average price of $48.77. The stock has a market capitalization of $190.48 billion, a P/E ratio of 15.92, a PEG ratio of 2.75 and a beta of 0.85.

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

Cisco Systems Announces Dividend

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

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.