Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 231,274 shares of the network equipment provider’s stock after selling 3,293 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Cisco Systems were worth $11,966,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. CORDA Investment Management LLC. raised its position in shares of Cisco Systems by 15.0% during the 2nd quarter. CORDA Investment Management LLC. now owns 24,745 shares of the network equipment provider’s stock valued at $1,280,000 after acquiring an additional 3,225 shares in the last quarter. Lakeside Advisors INC. raised its holdings in shares of Cisco Systems by 37.5% during the second quarter. Lakeside Advisors INC. now owns 9,527 shares of the network equipment provider’s stock worth $493,000 after purchasing an additional 2,596 shares during the period. Hamilton Capital LLC lifted its position in shares of Cisco Systems by 6.8% in the 2nd quarter. Hamilton Capital LLC now owns 14,427 shares of the network equipment provider’s stock worth $746,000 after buying an additional 924 shares during the last quarter. Forum Financial Management LP grew its position in shares of Cisco Systems by 3.1% during the 2nd quarter. Forum Financial Management LP now owns 41,845 shares of the network equipment provider’s stock valued at $2,165,000 after buying an additional 1,255 shares during the last quarter. Finally, Lido Advisors LLC raised its stake in Cisco Systems by 0.7% during the second quarter. Lido Advisors LLC now owns 349,827 shares of the network equipment provider’s stock worth $18,100,000 after acquiring an additional 2,414 shares during the period. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,022 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $56.22, for a total value of $169,896.84. Following the completion of the transaction, the executive vice president now owns 169,396 shares in the company, valued at approximately $9,523,443.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the subject of several recent research reports. Bank of America upped their target price on Cisco Systems from $56.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, September 13th. Tigress Financial lifted their price objective on shares of Cisco Systems from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, September 22nd. Morgan Stanley raised their price target on shares of Cisco Systems from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, August 17th. UBS Group reduced their price target on Cisco Systems from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Oppenheimer cut their price objective on shares of Cisco Systems from $58.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $58.38.

Cisco Systems Price Performance

Shares of NASDAQ CSCO traded down $0.28 during midday trading on Friday, reaching $47.76. 32,337,438 shares of the company traded hands, compared to its average volume of 18,418,748. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.27 and a current ratio of 1.38. The stock’s 50-day simple moving average is $53.38 and its 200-day simple moving average is $52.23. The firm has a market cap of $193.64 billion, a PE ratio of 14.43, a PEG ratio of 2.37 and a beta of 0.98.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.20. The firm had revenue of $14.67 billion during the quarter, compared to analysts’ expectations of $14.63 billion. Cisco Systems had a return on equity of 34.92% and a net margin of 23.40%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm posted $0.77 EPS. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.57 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Thursday, January 4th will be paid a $0.39 dividend. The ex-dividend date is Wednesday, January 3rd. This represents a $1.56 annualized dividend and a yield of 3.27%. Cisco Systems’s dividend payout ratio (DPR) is 47.13%.

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.