Roman Butler Fullerton & Co. Sells 8,965 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Roman Butler Fullerton & Co. cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 37.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,286 shares of the network equipment provider’s stock after selling 8,965 shares during the quarter. Roman Butler Fullerton & Co.’s holdings in Cisco Systems were worth $874,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Mainstream Capital Management LLC purchased a new stake in Cisco Systems during the 4th quarter valued at approximately $132,000. Proficio Capital Partners LLC grew its holdings in Cisco Systems by 76.4% during the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock valued at $1,003,000 after purchasing an additional 7,338 shares during the last quarter. Investment Management Corp of Ontario grew its stake in shares of Cisco Systems by 44.6% during the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider’s stock valued at $11,454,000 after buying an additional 59,680 shares during the last quarter. AlTi Global Inc. increased its stake in Cisco Systems by 49.8% in the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider’s stock worth $1,217,000 after purchasing an additional 6,811 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new position in Cisco Systems in the 4th quarter worth about $282,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. New Street Research restated a “neutral” rating and set a $70.00 price objective on shares of Cisco Systems in a report on Friday, May 16th. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the company from $65.00 to $73.00 in a research note on Monday. Wells Fargo & Company upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Finally, Rosenblatt Securities lifted their target price on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average target price of $69.11.

Insider Activity

In related news, EVP Oliver Tuszik sold 15,000 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total transaction of $952,950.00. Following the transaction, the executive vice president now owns 131,676 shares of the company’s stock, valued at approximately $8,365,376.28. This represents a 10.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total transaction of $48,821.34. Following the completion of the transaction, the senior vice president now owns 36,937 shares of the company’s stock, valued at $2,366,553.59. This trade represents a 2.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,931 shares of company stock valued at $4,671,930 in the last 90 days. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $65.33 on Wednesday. The stock has a market capitalization of $258.71 billion, a PE ratio of 26.67, a P/E/G ratio of 3.95 and a beta of 0.88. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The company has a fifty day moving average of $60.86 and a two-hundred day moving average of $60.66. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 EPS. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 66.94%.

Cisco Systems Company 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.