Intellectus Partners LLC Sells 1,069 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

by · The Cerbat Gem

Intellectus Partners LLC lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 2.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 43,718 shares of the network equipment provider’s stock after selling 1,069 shares during the period. Intellectus Partners LLC’s holdings in Cisco Systems were worth $2,698,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Consilio Wealth Advisors LLC raised its position in Cisco Systems by 7.4% in the first quarter. Consilio Wealth Advisors LLC now owns 3,835 shares of the network equipment provider’s stock worth $237,000 after purchasing an additional 264 shares in the last quarter. Hudson Capital Management LLC raised its position in Cisco Systems by 1.2% in the first quarter. Hudson Capital Management LLC now owns 84,884 shares of the network equipment provider’s stock worth $5,238,000 after purchasing an additional 1,028 shares in the last quarter. Generali Investments Management Co LLC raised its position in Cisco Systems by 5.1% in the first quarter. Generali Investments Management Co LLC now owns 46,770 shares of the network equipment provider’s stock worth $2,886,000 after purchasing an additional 2,263 shares in the last quarter. MRA Advisory Group raised its position in Cisco Systems by 13.2% in the first quarter. MRA Advisory Group now owns 6,762 shares of the network equipment provider’s stock worth $417,000 after purchasing an additional 787 shares in the last quarter. Finally, Ullmann Wealth Partners Group LLC raised its position in Cisco Systems by 24.2% in the first quarter. Ullmann Wealth Partners Group LLC now owns 5,062 shares of the network equipment provider’s stock worth $312,000 after purchasing an additional 987 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO stock opened at $64.62 on Friday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The stock has a market cap of $255.90 billion, a PE ratio of 28.22, a PEG ratio of 4.16 and a beta of 0.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The firm’s 50 day moving average price is $59.52 and its two-hundred day moving average price is $60.27.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share. As a group, analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems announced that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.54%. Cisco Systems’s dividend payout ratio is 66.94%.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares in the company, valued at $11,604,868.80. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Oliver Tuszik sold 15,000 shares of the firm’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total transaction of $952,950.00. Following the sale, the executive vice president now owns 131,676 shares in the company, valued at approximately $8,365,376.28. The trade was a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,616 shares of company stock valued at $2,640,095 over the last three months. 0.01% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on CSCO shares. Morgan Stanley reaffirmed a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Evercore ISI raised their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. UBS Group raised their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. raised their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. Finally, DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Check Out Our Latest Research Report on Cisco Systems

Cisco Systems Company Profile

(Free Report)

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.

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