Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Johnson Financial Group Inc.

Johnson Financial Group Inc. cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 123,242 shares of the network equipment provider's stock after selling 8,783 shares during the period. Johnson Financial Group Inc.'s holdings in Cisco Systems were worth $7,468,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. FPC Investment Advisory Inc. acquired a new stake in Cisco Systems in the fourth quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. purchased a new position in shares of Cisco Systems in the fourth quarter worth $30,000. Campbell Capital Management Inc. purchased a new position in shares of Cisco Systems during the fourth quarter worth $31,000. Highline Wealth Partners LLC raised its holdings in shares of Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock worth $35,000 after purchasing an additional 260 shares during the last quarter. Finally, Synergy Investment Management LLC purchased a new position in shares of Cisco Systems during the fourth quarter worth $36,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Trading Up 0.2 %

Shares of CSCO traded up $0.13 during midday trading on Monday, hitting $56.84. 23,101,648 shares of the stock were exchanged, compared to its average volume of 20,240,080. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The stock has a fifty day simple moving average of $59.83 and a 200 day simple moving average of $59.27. The firm has a market cap of $226.13 billion, a P/E ratio of 24.82, a P/E/G ratio of 4.16 and a beta of 0.86. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its board has approved a share buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd were paid a $0.41 dividend. The ex-dividend date was Thursday, April 3rd. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 2.89%. Cisco Systems's dividend payout ratio (DPR) is currently 71.62%.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total transaction of $46,474.38. Following the sale, the senior vice president now owns 44,155 shares in the company, valued at approximately $2,693,013.45. The trade was a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the sale, the executive vice president now owns 191,184 shares in the company, valued at $11,604,868.80. This trade represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,547 shares of company stock worth $4,275,553 over the last ninety days. Corporate insiders own 0.01% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a report on Thursday, March 6th. Evercore ISI reduced their target price on shares of Cisco Systems from $75.00 to $67.00 and set an "outperform" rating for the company in a report on Monday. UBS Group lifted their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Citigroup cut their price objective on shares of Cisco Systems from $73.00 to $68.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, DZ Bank raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Cisco Systems has a consensus rating of "Moderate Buy" and an average price target of $65.05.

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.