Teamwork Financial Advisors LLC Sells 1,474 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Teamwork Financial Advisors LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.1% during the 1st quarter, HoldingsChannel reports. The fund owned 10,752 shares of the network equipment provider’s stock after selling 1,474 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Cisco Systems were worth $537,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CSCO. American National Bank & Trust Co. VA purchased a new stake in Cisco Systems during the 1st quarter valued at about $1,941,000. FCG Investment Co increased its stake in shares of Cisco Systems by 126.4% in the first quarter. FCG Investment Co now owns 9,884 shares of the network equipment provider’s stock worth $493,000 after buying an additional 5,518 shares during the period. New Century Financial Group LLC raised its holdings in Cisco Systems by 9.5% during the 1st quarter. New Century Financial Group LLC now owns 12,792 shares of the network equipment provider’s stock valued at $638,000 after buying an additional 1,115 shares during the last quarter. Oak Harvest Investment Services boosted its position in Cisco Systems by 1.7% during the 1st quarter. Oak Harvest Investment Services now owns 136,434 shares of the network equipment provider’s stock valued at $6,809,000 after buying an additional 2,299 shares during the period. Finally, Tempus Wealth Planning LLC increased its position in shares of Cisco Systems by 3.2% in the first quarter. Tempus Wealth Planning LLC now owns 18,220 shares of the network equipment provider’s stock valued at $909,000 after acquiring an additional 570 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on CSCO. Wells Fargo & Company increased their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, May 16th. JPMorgan Chase & Co. initiated coverage on shares of Cisco Systems in a report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price target on the stock. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $55.00 to $60.00 in a report on Monday, April 15th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $56.47.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded down $0.19 during trading hours on Thursday, reaching $47.09. 8,118,296 shares of the stock traded hands, compared to its average volume of 19,658,074. The company has a 50 day moving average price of $47.00 and a 200 day moving average price of $48.74. The firm has a market capitalization of $189.72 billion, a price-to-earnings ratio of 15.86, a P/E/G ratio of 2.74 and a beta of 0.85. Cisco Systems, Inc. has a one year low of $44.95 and a one year high of $58.19. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The firm had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.88 earnings per share. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 annualized dividend and a dividend yield of 3.40%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the transaction, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the sale, the senior vice president now directly owns 51,788 shares in the company, valued at $2,352,210.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of Cisco Systems stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the transaction, the executive vice president now owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,106 shares of company stock worth $1,908,923. Corporate insiders own 0.02% of the company’s stock.

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.