Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 7.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,640 shares of the network equipment provider's stock after selling 5,943 shares during the quarter. Bridges Investment Management Inc.'s holdings in Cisco Systems were worth $4,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Glass Jacobson Investment Advisors llc grew its position in Cisco Systems by 8.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock worth $123,000 after acquiring an additional 166 shares during the period. BlackDiamond Wealth Management LLC raised its position in Cisco Systems by 3.1% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock valued at $335,000 after purchasing an additional 168 shares during the period. Legacy Financial Group Inc. lifted its stake in shares of Cisco Systems by 3.4% in the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock valued at $302,000 after purchasing an additional 169 shares during the last quarter. Capital Advantage Inc. grew its holdings in shares of Cisco Systems by 1.0% during the 4th quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider's stock worth $1,028,000 after purchasing an additional 172 shares during the period. Finally, Lynx Investment Advisory increased its position in shares of Cisco Systems by 3.9% during the 4th quarter. Lynx Investment Advisory now owns 4,593 shares of the network equipment provider's stock worth $272,000 after purchasing an additional 174 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Insider Activity

In other Cisco Systems news, insider Jeetendra I. Patel sold 899 shares of Cisco Systems stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $64.27, for a total value of $57,778.73. Following the transaction, the insider directly owned 255,377 shares in the company, valued at approximately $16,413,079.79. The trade was a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total value of $48,821.34. Following the sale, the senior vice president directly owned 36,937 shares of the company's stock, valued at $2,366,553.59. The trade was a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock worth $6,271,054 over the last 90 days. 0.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CSCO shares. New Street Research reaffirmed a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research note on Friday, May 16th. Piper Sandler increased their price objective 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. Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. Wolfe Research started coverage on Cisco Systems in a research note on Tuesday. They issued a "peer perform" rating for the company. Finally, Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, Cisco Systems presently has a consensus rating of "Moderate Buy" and an average target price of $69.53.

Cisco Systems Stock Performance

NASDAQ CSCO traded down $0.53 during trading hours on Thursday, hitting $68.75. The company had a trading volume of 6,304,528 shares, compared to its average volume of 20,342,992. The business has a 50 day moving average of $64.63 and a 200-day moving average of $61.68. The company has a market cap of $272.23 billion, a PE ratio of 28.07, a price-to-earnings-growth ratio of 4.10 and a beta of 0.90. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $69.78. 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 (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. The firm had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business's revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS. As a group, equities research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a $0.41 dividend. 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 (DPR) is 66.94%.

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.