Veracity Capital LLC Decreases Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Veracity Capital LLC decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,743 shares of the network equipment provider’s stock after selling 374 shares during the period. Veracity Capital LLC’s holdings in Cisco Systems were worth $636,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Valued Wealth Advisors LLC bought a new position in shares of Cisco Systems during the 4th quarter worth $32,000. Delos Wealth Advisors LLC grew its position in shares of Cisco Systems by 1,666.7% during the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after buying an additional 600 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new position in shares of Cisco Systems during the 4th quarter worth $33,000. Morton Brown Family Wealth LLC grew its position in shares of Cisco Systems by 41.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after buying an additional 208 shares in the last quarter. Finally, Bourgeon Capital Management LLC grew its position in shares of Cisco Systems by 3,500.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after buying an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 180,705 shares in the company, valued at $8,717,209.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the company’s 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 transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s 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 transaction, 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 in the last three months. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CSCO. Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and increased their price target for the stock from $55.00 to $60.00 in a research report on Monday, April 15th. Citigroup began coverage on shares of Cisco Systems in a report on Friday, April 12th. They issued a “neutral” rating and a $52.00 price target on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Monday, June 10th. Morgan Stanley began coverage on shares of Cisco Systems in a research report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price objective on the stock. Finally, Barclays lifted their price objective on shares of Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and an average target price of $56.47.

Cisco Systems Stock Performance

Shares of CSCO stock traded down $0.19 during trading hours on Thursday, hitting $47.09. The company’s stock had a trading volume of 8,118,296 shares, compared to its average volume of 19,658,074. The company has a 50 day moving average of $47.00 and a 200 day moving average of $48.74. The stock has a market cap of $189.72 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 2.74 and a beta of 0.85. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a 12-month low of $44.95 and a 12-month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same period in the prior year, the firm earned $0.88 EPS. The business’s revenue for the quarter was down 12.8% on a year-over-year basis. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

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