St. James Investment Company LLC Has $11.75 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

St. James Investment Company LLC lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 47.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 190,341 shares of the network equipment provider’s stock after selling 170,827 shares during the quarter. Cisco Systems accounts for 2.0% of St. James Investment Company LLC’s holdings, making the stock its 17th biggest position. St. James Investment Company LLC’s holdings in Cisco Systems were worth $11,746,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Navigoe LLC acquired a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems during the fourth quarter worth $26,000. JDM Financial Group LLC lifted 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 acquiring an additional 300 shares during the last quarter. Runnymede Capital Advisors Inc. bought a new position in shares of Cisco Systems in the 4th quarter valued at about $30,000. Finally, Campbell Capital Management Inc. acquired a new position in shares of Cisco Systems during the 4th quarter worth about $31,000. 73.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their target price for the company from $65.00 to $73.00 in a research note on Monday, June 16th. New Street Research reissued a “neutral” rating and set a $70.00 target price on shares of Cisco Systems in a report on Friday, May 16th. Barclays restated an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. KeyCorp assumed coverage on shares of Cisco Systems in a report on Thursday, June 26th. They issued an “overweight” rating and a $77.00 price objective on the stock. Finally, Wells Fargo & Company raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.53.

Insider Activity

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,726 shares of Cisco Systems stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the transaction, the executive vice president owned 174,669 shares in the company, valued at $11,447,806.26. The trade was a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeetendra I. Patel sold 899 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $64.27, for a total transaction of $57,778.73. Following the completion of the transaction, the insider directly owned 255,377 shares of the company’s stock, valued at $16,413,079.79. This trade represents a 0.35% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,335 shares of company stock valued at $6,271,054. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

CSCO opened at $68.59 on Thursday. 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, Inc. has a 52-week low of $44.50 and a 52-week high of $69.78. The firm has a market cap of $271.62 billion, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 4.13 and a beta of 0.90. The business’s fifty day moving average is $63.41 and its 200-day moving average is $61.30.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share 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 business had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter in the prior year, the business posted $0.88 earnings per share. Cisco Systems’s revenue was up 11.4% compared to the same quarter last year. Sell-side analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.39%. Cisco Systems’s dividend payout ratio is currently 66.94%.

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.