Morton Capital Management LLC CA Trims Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Morton Capital Management LLC CA lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.5% during the first quarter, Holdings Channel.com reports. The firm owned 35,715 shares of the network equipment provider’s stock after selling 1,314 shares during the period. Cisco Systems makes up 0.5% of Morton Capital Management LLC CA’s holdings, making the stock its 20th biggest holding. Morton Capital Management LLC CA’s holdings in Cisco Systems were worth $1,783,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wealth Management Partners LLC raised its position in Cisco Systems by 22.5% in the first quarter. Wealth Management Partners LLC now owns 6,231 shares of the network equipment provider’s stock valued at $311,000 after purchasing an additional 1,145 shares during the period. Unison Advisors LLC raised its position in Cisco Systems by 1.1% in the first quarter. Unison Advisors LLC now owns 64,551 shares of the network equipment provider’s stock valued at $3,222,000 after purchasing an additional 733 shares during the period. Strong Tower Advisory Services raised its position in Cisco Systems by 16.8% in the first quarter. Strong Tower Advisory Services now owns 18,300 shares of the network equipment provider’s stock valued at $916,000 after purchasing an additional 2,635 shares during the period. Austin Private Wealth LLC raised its holdings in shares of Cisco Systems by 6.1% in the 1st quarter. Austin Private Wealth LLC now owns 7,657 shares of the network equipment provider’s stock valued at $373,000 after buying an additional 440 shares during the period. Finally, Strategic Planning Group LLC raised its holdings in shares of Cisco Systems by 23.5% in the 1st quarter. Strategic Planning Group LLC now owns 77,098 shares of the network equipment provider’s stock valued at $3,848,000 after buying an additional 14,669 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CSCO. Morgan Stanley began coverage on Cisco Systems in a report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price objective on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. Oppenheimer boosted their price objective on Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. Finally, Barclays boosted their price objective on Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $56.47.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the sale, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,378 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,430,013.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the sale, the executive vice president now directly 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 valued at $1,908,923 in the last three months. 0.02% of the stock is currently owned by company insiders.

Cisco Systems Stock Up 0.9 %

Shares of NASDAQ:CSCO traded up $0.44 on Tuesday, hitting $47.72. 2,766,506 shares of the company’s stock were exchanged, compared to its average volume of 19,680,010. The firm’s 50-day moving average is $47.12 and its 200 day moving average is $48.84. The company has a market capitalization of $192.25 billion, a PE ratio of 16.07, a P/E/G ratio of 2.74 and a beta of 0.86. Cisco Systems, Inc. has a 1-year low of $44.95 and a 1-year high of $58.19. 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 (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.18. The business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 EPS. Sell-side analysts predict that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Announces Dividend

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 given a $0.40 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.35%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Cisco Systems Profile

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.