CAPROCK Group Inc. Sells 4,106 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

CAPROCK Group Inc. reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 5.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 75,730 shares of the network equipment provider’s stock after selling 4,106 shares during the quarter. CAPROCK Group Inc.’s holdings in Cisco Systems were worth $4,223,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Econ Financial Services Corp bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $29,000. Sandy Cove Advisors LLC acquired a new position in shares of Cisco Systems in the 4th quarter valued at approximately $33,000. Evolution Advisers Inc. acquired a new position in shares of Cisco Systems in the 4th quarter valued at approximately $33,000. Regency Capital Management Inc. DE acquired a new position in shares of Cisco Systems in the 4th quarter valued at approximately $34,000. Finally, Steward Financial Group LLC acquired a new position in shares of Cisco Systems in the 4th quarter valued at approximately $36,000. 73.18% of the stock is owned by institutional investors.

In related news, CEO Charles Robbins sold 12,717 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $43.79, for a total value of $556,877.43. Following the sale, the chief executive officer now directly owns 651,577 shares of the company’s stock, valued at $28,532,556.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prat Bhatt sold 607 shares of the firm’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $43.10, for a total value of $26,161.70. Following the completion of the sale, the senior vice president now directly owns 79,855 shares in the company, valued at $3,441,750.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,326 shares of company stock worth $1,103,159. 0.02% of the stock is currently owned by insiders.

Several brokerages recently issued reports on CSCO. Bank of America decreased their price objective on Cisco Systems from $62.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, May 19th. Oppenheimer reduced their price target on Cisco Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, May 19th. Jefferies Financial Group reduced their price target on Cisco Systems from $65.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, May 19th. The Goldman Sachs Group reduced their price target on Cisco Systems from $64.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, May 20th. Finally, StockNews.com initiated coverage on Cisco Systems in a research report on Thursday, March 31st. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and an average target price of $55.05.

CSCO opened at $43.57 on Thursday. The firm has a market cap of $180.42 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 2.27 and a beta of 0.99. Cisco Systems, Inc. has a 52-week low of $41.02 and a 52-week high of $64.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.40 and a current ratio of 1.49. The business’s fifty day moving average is $47.24 and its 200-day moving average is $53.77.

Cisco Systems (NASDAQ:CSCOGet Rating) last released its earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.01. Cisco Systems had a return on equity of 31.22% and a net margin of 23.28%. During the same quarter last year, the company posted $0.75 EPS. On average, research analysts predict that Cisco Systems, Inc. will post 2.99 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Wednesday, July 6th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Tuesday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is currently 53.33%.

Cisco Systems Company Profile (Get Rating)

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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