Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Vista Investment Partners LLC

Vista Investment Partners LLC cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,325 shares of the network equipment provider’s stock after selling 884 shares during the quarter. Vista Investment Partners LLC’s holdings in Cisco Systems were worth $1,298,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Tennessee Valley Asset Management Partners purchased a new stake in shares of Cisco Systems during the 4th quarter valued at about $78,000. Rakuten Securities Inc. acquired a new position in shares of Cisco Systems during the fourth quarter worth $43,000. Waterfront Wealth Inc. grew its holdings in Cisco Systems by 2.1% during the 4th quarter. Waterfront Wealth Inc. now owns 18,849 shares of the network equipment provider’s stock valued at $952,000 after purchasing an additional 380 shares in the last quarter. Peterson Wealth Services increased its stake in Cisco Systems by 18.8% during the 4th quarter. Peterson Wealth Services now owns 29,994 shares of the network equipment provider’s stock worth $1,515,000 after buying an additional 4,754 shares during the period. Finally, Ninety One UK Ltd increased its position in shares of Cisco Systems by 1.5% during the fourth quarter. Ninety One UK Ltd now owns 272,994 shares of the network equipment provider’s stock worth $13,792,000 after acquiring an additional 4,106 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CSCO. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Thursday. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday. Oppenheimer upped their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. Barclays dropped their target price on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and a consensus price target of $55.89.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded up $0.93 during trading hours on Friday, hitting $49.46. The stock had a trading volume of 27,424,886 shares, compared to its average volume of 19,935,170. The stock’s fifty day simple moving average is $46.74 and its 200 day simple moving average is $47.88. The firm has a market capitalization of $199.27 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 2.97 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The firm had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same period last year, the firm earned $1.01 EPS. The firm’s revenue was down 10.3% compared to the same quarter last year. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s payout ratio is currently 53.87%.

Insider Activity

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,378 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the completion of the sale, the senior vice president now directly owns 52,953 shares in the company, valued at approximately $2,430,013.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total value of $155,016.42. Following the completion of the sale, the senior vice president now owns 52,953 shares in the company, valued at approximately $2,430,013.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the transaction, the executive vice president now owns 176,384 shares in the company, valued at $7,997,250.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,090 shares of company stock worth $1,522,231. Corporate insiders own 0.02% of the company’s stock.

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.