ARGA Investment Management LP Lowers Position in Cisco Systems, Inc. (NASDAQ:CSCO)

ARGA Investment Management LP lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 24.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 21,013 shares of the network equipment provider's stock after selling 6,973 shares during the period. ARGA Investment Management LP's holdings in Cisco Systems were worth $1,297,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Navigoe LLC purchased a new position in shares of Cisco Systems during the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems during the 4th quarter worth approximately $26,000. JDM Financial Group LLC lifted its holdings in Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after buying an additional 300 shares in the last quarter. Runnymede Capital Advisors Inc. acquired a new stake in Cisco Systems during the 4th quarter worth approximately $30,000. Finally, Campbell Capital Management Inc. acquired a new stake in Cisco Systems during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Wolfe Research assumed coverage on shares of Cisco Systems in a report on Tuesday. They set a "peer perform" rating on the stock. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Piper Sandler raised their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Finally, Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $72.00 to $75.00 in a report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Cisco Systems presently has a consensus rating of "Moderate Buy" and an average price target of $69.53.

Cisco Systems Stock Down 0.5%

Shares of NASDAQ CSCO traded down $0.34 during mid-day trading on Tuesday, reaching $68.59. The company had a trading volume of 19,766,445 shares, compared to its average volume of 20,368,485. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The firm has a 50 day simple moving average of $64.18 and a two-hundred day simple moving average of $61.58. The stock has a market cap of $271.62 billion, a P/E ratio of 28.00, a PEG ratio of 4.15 and a beta of 0.90. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (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 for the quarter, compared to the consensus estimate of $14.05 billion. During the same period last year, the firm posted $0.88 EPS. Cisco Systems's revenue for the quarter was up 11.4% on a year-over-year basis. Sell-side analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm 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. This represents a $1.64 annualized dividend and a yield of 2.39%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's payout ratio is currently 66.94%.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the transaction, the chief executive officer directly owned 688,409 shares of the company's stock, valued at approximately $44,478,105.49. This trade represents a 4.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeetendra I. Patel sold 9,961 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.97, for a total transaction of $637,205.17. Following the transaction, the insider directly owned 257,162 shares in the company, valued at $16,450,653.14. The trade was a 3.73% decrease in their ownership of the stock. 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 three months. Company insiders own 0.01% of the company's stock.

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.