Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by First City Capital Management Inc.

First City Capital Management Inc. lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,300 shares of the network equipment provider’s stock after selling 325 shares during the quarter. First City Capital Management Inc.’s holdings in Cisco Systems were worth $1,024,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Quarry LP boosted its holdings in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC increased its position in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of Cisco Systems in the 3rd quarter valued at $40,000. Capital Performance Advisors LLP purchased a new stake in shares of Cisco Systems during the 3rd quarter valued at $51,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Cisco Systems during the 3rd quarter worth $56,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO traded up $0.42 during trading hours on Friday, hitting $59.12. 7,780,373 shares of the company’s stock traded hands, compared to its average volume of 11,851,125. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The company’s fifty day simple moving average is $58.24 and its two-hundred day simple moving average is $52.58. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $60.23. The company has a market cap of $235.46 billion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 4.37 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 EPS. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

Insider Activity

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the sale, the executive vice president now owns 213,834 shares in the company, valued at $12,203,506.38. This represents a 9.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 86,351 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the transaction, the chief financial officer now directly owns 365,314 shares in the company, valued at $21,001,901.86. This trade represents a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock worth $20,349,721 over the last 90 days. 0.01% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of research analyst reports. Barclays increased their target price on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Tigress Financial upped their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Morgan Stanley increased their target price on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Citigroup boosted their target price on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus price target of $60.28.

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.