Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Hudson Edge Investment Partners Inc.

by · The Cerbat Gem

Hudson Edge Investment Partners Inc. trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 4.0% during the first quarter, HoldingsChannel.com reports. The fund owned 112,455 shares of the network equipment provider’s stock after selling 4,688 shares during the period. Cisco Systems makes up approximately 1.4% of Hudson Edge Investment Partners Inc.’s holdings, making the stock its 11th largest holding. Hudson Edge Investment Partners Inc.’s holdings in Cisco Systems were worth $6,940,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Navigoe LLC acquired a new position in shares of Cisco Systems in the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC acquired a new position in Cisco Systems in the 4th quarter valued at $26,000. JDM Financial Group LLC raised its position in Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after buying an additional 300 shares during the last quarter. Runnymede Capital Advisors Inc. acquired a new stake in shares of Cisco Systems in the 4th quarter worth $30,000. Finally, Campbell Capital Management Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter valued at about $31,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CSCO. Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Evercore ISI increased their target price on Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Citigroup boosted their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Finally, New Street Research reiterated a “neutral” rating and issued a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.53.

View Our Latest Report on Cisco Systems

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total transaction of $48,821.34. Following the transaction, the senior vice president owned 36,937 shares of the company’s stock, valued at $2,366,553.59. This represents a 2.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Richard Scott Herren sold 15,678 shares of the firm’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the sale, the chief financial officer owned 309,543 shares in the company, valued at $20,281,257.36. This trade represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock worth $6,271,054 over the last three months. Company insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $68.59 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The business’s fifty day moving average price is $63.41 and its two-hundred day moving average price is $61.30. The stock has a market cap of $271.62 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 4.13 and a beta of 0.90. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.88 earnings per share. On average, analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.39%. Cisco Systems’s dividend payout ratio is currently 66.94%.

About Cisco Systems

(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.

Further Reading

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