Delta Financial Group Inc. Has $1.39 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Delta Financial Group Inc. trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 15.8% during the first quarter, Holdings Channel reports. The firm owned 22,751 shares of the network equipment provider’s stock after selling 4,275 shares during the quarter. Delta Financial Group Inc.’s holdings in Cisco Systems were worth $1,387,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Navigoe LLC acquired a new position in shares of Cisco Systems during the 4th quarter valued at $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems in the fourth quarter worth $26,000. JDM Financial Group LLC increased its stake in Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. Fairway Wealth LLC raised its holdings in shares of Cisco Systems by 224.7% during the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 400 shares during the period. Finally, Accredited Wealth Management LLC acquired a new stake in shares of Cisco Systems in the 4th quarter valued at about $37,000. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CSCO. Rosenblatt Securities increased their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Morgan Stanley lifted their price target on shares of Cisco Systems from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. KeyCorp assumed coverage on shares of Cisco Systems in a report on Thursday, June 26th. They set an “overweight” rating and a $77.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on shares of Cisco Systems from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. Finally, Citigroup lifted their price target on Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $70.35.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $67.11 on Friday. The firm has a market capitalization of $265.76 billion, a PE ratio of 27.39, a P/E/G ratio of 4.01 and a beta of 0.91. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average price of $66.87 and a two-hundred day moving average price of $62.74. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78.

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

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Thursday, July 3rd. Cisco Systems’s payout ratio is presently 66.94%.

Insider Activity at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 2,407 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total value of $154,072.07. Following the completion of the transaction, the executive vice president directly owned 177,027 shares in the company, valued at approximately $11,331,498.27. This trade represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total transaction of $571,902.04. Following the transaction, the executive vice president directly owned 174,669 shares of the company’s stock, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock worth $6,271,054 in the last 90 days. 0.01% of the stock is owned by company insiders.

About Cisco Systems

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.