Beacon Financial Group Has $2.32 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Beacon Financial Group reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 19.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,508 shares of the network equipment provider's stock after selling 8,971 shares during the quarter. Beacon Financial Group's holdings in Cisco Systems were worth $2,315,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new position in Cisco Systems during the 4th quarter worth approximately $26,000. Navigoe LLC purchased a new position in shares of Cisco Systems in the fourth quarter valued at $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems during the 4th quarter valued at $26,000. JDM Financial Group LLC increased its stake 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 during the period. Finally, Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems in the 4th quarter worth $30,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the transaction, the executive vice president now directly owns 191,184 shares of the company's stock, valued at $11,604,868.80. This represents a 1.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeetendra I. Patel sold 9,961 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the completion of the sale, the insider now directly owns 257,162 shares of the company's stock, valued at approximately $16,450,653.14. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,616 shares of company stock valued at $2,640,095. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

CSCO stock traded up $0.23 during trading on Thursday, reaching $64.62. 17,001,251 shares of the company's stock were exchanged, compared to its average volume of 20,113,978. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The firm has a market cap of $255.90 billion, a PE ratio of 28.22, a P/E/G ratio of 4.16 and a beta of 0.88. The company's fifty day moving average price is $59.47 and its 200-day moving average price is $60.22. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the prior year, the firm posted $0.88 EPS. Cisco Systems's revenue was up 11.4% compared to the same quarter last year. On average, research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems declared that its board has approved a share buyback plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Cisco Systems Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.54%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Piper Sandler raised their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. The Goldman Sachs Group upped their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. UBS Group boosted their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and an average price target of $68.00.

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.