Valley National Advisers Inc. Sells 680 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Valley National Advisers Inc. lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% in the 1st quarter, Holdings Channel reports. The firm owned 37,695 shares of the network equipment provider’s stock after selling 680 shares during the period. Valley National Advisers Inc.’s holdings in Cisco Systems were worth $1,881,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CSCO. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Cisco Systems by 586.5% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 127,776 shares of the network equipment provider’s stock valued at $6,869,000 after acquiring an additional 109,164 shares during the last quarter. AXQ Capital LP bought a new position in shares of Cisco Systems in the 3rd quarter valued at about $484,000. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Cisco Systems by 1.1% in the 3rd 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 acquiring an additional 49,700 shares during the last quarter. Evergreen Capital Management LLC lifted its holdings in shares of Cisco Systems by 0.6% in the 3rd quarter. Evergreen Capital Management LLC now owns 314,262 shares of the network equipment provider’s stock valued at $16,895,000 after acquiring an additional 1,936 shares during the last quarter. Finally, Legacy Advisors LLC lifted its holdings in shares of Cisco Systems by 57.0% in the 3rd quarter. Legacy Advisors LLC now owns 17,299 shares of the network equipment provider’s stock valued at $930,000 after acquiring an additional 6,283 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $48.24, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction on Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the sale, the executive vice president now owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The disclosure for this sale can be found here. Insiders sold a total of 41,106 shares of company stock worth $1,908,923 over the last three months. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Stock Down 0.4 %

CSCO stock traded down $0.19 during trading on Wednesday, hitting $47.09. 8,118,296 shares of the company’s stock traded hands, compared to its average volume of 19,657,014. The firm has a market capitalization of $189.72 billion, a P/E ratio of 15.97, a PEG ratio of 2.75 and a beta of 0.85. The business has a fifty day simple moving average of $47.03 and a two-hundred day simple moving average of $48.75. 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 1 year low of $44.95 and a 1 year high of $58.19.

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. The company 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%. Cisco Systems’s revenue was down 12.8% compared to the same quarter last year. During the same period last year, the firm earned $0.88 earnings per share. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 annualized dividend and a yield of 3.40%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Analysts Set New Price Targets

CSCO has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective 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. Oppenheimer increased their price objective on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective on the stock in a research report on Monday, May 13th. Wells Fargo & Company increased their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 16th. Finally, Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $55.00 to $60.00 in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $56.47.

Cisco Systems Company 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.