Bowling Portfolio Management LLC holds $1.10 million stake in Cisco Systems, Inc. (NASDAQ: CSCO)

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Bowling Portfolio Management LLC reduced its position in Cisco Systems, Inc. (NASDAQ: CSCO – Get Rating) by 54.1% during the 1st quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The company held 19,674 shares of the network equipment provider after selling 23,202 shares during the quarter. Bowling Portfolio Management LLC’s holdings in Cisco Systems were worth $1,097,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently increased or reduced their stake in the company. Econ Financial Services Corp acquired a new stake in Cisco Systems stock in Q4 valued at around $29,000. Sandy Cove Advisors LLC acquired a new stake in Cisco Systems stock in Q4 valued at approximately $33,000. Evolution Advisers Inc. acquired a new stake in Cisco Systems stock in Q4 worth approximately $33,000. Regency Capital Management Inc. DE acquired a new stake in Cisco Systems stock in Q4 valued at approximately $34,000. Finally, Steward Financial Group LLC bought a new position in Cisco Systems stock in Q4, valued at around $36,000. 73.18% of the shares are currently held by hedge funds and other institutional investors.

In other Cisco Systems news, CEO Charles Robbins sold 12,717 shares of the company in a trade that took place on Wednesday, May 25. The shares were sold at an average price of $43.79, for a total transaction of $556,877.43. Following completion of the transaction, the CEO now directly owns 651,577 shares of the company, valued at $28,532,556.83. The sale was disclosed in an SEC filing, available on the SEC’s website. Additionally, SVP Prat Bhatt sold 3,700 shares of the company in a trade that took place on Monday, May 23. The shares were sold at an average price of $43.34, for a total transaction of $160,358.00. Following the transaction, the senior vice president now owns 80,784 shares of the company, valued at $3,501,178.56. The disclosure of this sale can be found here. During the last quarter, insiders sold 25,326 shares of the company valued at $1,103,159. 0.02% of the shares are held by insiders of the company.

CSCO has been the subject of several analyst reports. Credit Suisse Group cut its price target on Cisco Systems from $72.00 to $60.00 and set an “outperform” rating for the company in a Thursday, May 19 report. Oppenheimer cut his price target on Cisco Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a Thursday, May 19 report. Goldman Sachs Group cut its price target on Cisco Systems from $64.00 to $46.00 and set a “neutral” rating for the company in a Friday, May 20 report. Wells Fargo & Company cut its price target on Cisco Systems from $65.00 to $52.00 and set an “equal weight” rating for the company in a Thursday, May 19 report. Finally, Jefferies Financial Group cut its price target on Cisco Systems from $65.00 to $52.00 and set a “buy” rating for the company in a Thursday, May 19 report. One financial analyst gave the stock a sell rating, eleven gave the company a hold rating and fourteen gave the company a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.05.

CSCO shares opened at $43.57 on Thursday. The company has a 50-day moving average price of $47.24 and a two-hundred-day moving average price of $53.77. The company has a quick ratio of 1.40, a current ratio of 1.49 and a leverage ratio of 0.21. The company has a market capitalization of $180.42 billion, a PE ratio of 15.29, a growth price-earnings ratio of 2.27 and a beta of 0.99. Cisco Systems, Inc. has a 12-month low of $41.02 and a 12-month high of $64.29.

Cisco Systems (NASDAQ:CSCO – Get Rating) last released its quarterly results on Wednesday, May 18. The networking equipment provider reported earnings per share of $0.87 for the quarter, beating analysts’ consensus estimate of $0.86 by $0.01. Cisco Systems had a net margin of 23.28% and a return on equity of 31.22%. In the same period a year earlier, the company had earned earnings per share of $0.75. As a group, research analysts expect Cisco Systems, Inc. to post EPS of 2.99 for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 27. Shareholders of record on Wednesday, July 6 will receive a dividend of $0.38. The ex-dividend date is Tuesday, July 5. This represents a dividend of $1.52 on an annualized basis and a dividend yield of 3.49%. Cisco Systems payout ratio is 53.33%.

Cisco Systems Profile (Get an assessment)

Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol-based networks and other products related to the communications and information technology industry in the Americas, Europe, Middle East, Africa, in Asia-Pacific, Japan and China. It provides infrastructure platforms, including networking technologies of switching, routing, wireless and data center products designed to work together to deliver networking capabilities and transport and /or store data.

Further reading

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



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