Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by BigSur Wealth Management LLC

BigSur Wealth Management LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 62.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,500 shares of the network equipment provider's stock after selling 12,500 shares during the period. BigSur Wealth Management LLC's holdings in Cisco Systems were worth $463,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in CSCO. Pullen Investment Management LLC acquired a new position in shares of Cisco Systems during the 1st quarter valued at $1,519,000. CVA Family Office LLC lifted its holdings in shares of Cisco Systems by 2.2% during the 1st quarter. CVA Family Office LLC now owns 28,140 shares of the network equipment provider's stock valued at $1,737,000 after acquiring an additional 608 shares in the last quarter. Elevation Point Wealth Partners LLC lifted its holdings in shares of Cisco Systems by 92.7% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 26,867 shares of the network equipment provider's stock valued at $1,658,000 after acquiring an additional 12,925 shares in the last quarter. West Branch Capital LLC lifted its holdings in shares of Cisco Systems by 8.8% during the 1st quarter. West Branch Capital LLC now owns 48,444 shares of the network equipment provider's stock valued at $2,989,000 after acquiring an additional 3,900 shares in the last quarter. Finally, Everhart Financial Group Inc. lifted its holdings in shares of Cisco Systems by 7.7% during the 1st quarter. Everhart Financial Group Inc. now owns 24,657 shares of the network equipment provider's stock valued at $1,522,000 after acquiring an additional 1,773 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 9,643 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.50, for a total value of $612,330.50. Following the transaction, the executive vice president now owns 181,186 shares of the company's stock, valued at $11,505,311. This trade represents a 5.05% decrease in their ownership of the stock. The sale 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 firm's 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 now directly owns 255,377 shares in the company, valued at $16,413,079.79. This represents a 0.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,931 shares of company stock valued at $4,671,930 over the last quarter. Insiders own 0.01% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CSCO. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Citigroup lifted their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Piper Sandler boosted their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Finally, Wall Street Zen upgraded shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $68.00.

Cisco Systems Stock Down 1.6%

Shares of Cisco Systems stock traded down $1.01 during trading on Friday, reaching $64.09. The company had a trading volume of 14,630,776 shares, compared to its average volume of 20,161,810. The company has a market cap of $253.80 billion, a price-to-earnings ratio of 27.99, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. The firm's fifty day moving average is $60.47 and its 200-day moving average is $60.57. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued 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. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 EPS. On average, analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

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 issued a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.56%. 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.