Brookstone Capital Management Reduces Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Brookstone Capital Management lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 11.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,308 shares of the network equipment provider's stock after selling 4,721 shares during the period. Brookstone Capital Management's holdings in Cisco Systems were worth $2,179,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CSCO. Navigoe LLC purchased a new stake in shares of Cisco Systems in the 4th quarter valued at $26,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Cisco Systems in the 4th quarter valued at $26,000. JDM Financial Group LLC boosted its holdings in shares of Cisco Systems by 160.4% in the 4th 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. purchased a new stake in shares of Cisco Systems in the 4th quarter valued at $30,000. Finally, Campbell Capital Management Inc. purchased a new stake in shares of Cisco Systems in the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $69.64 on Monday. The firm has a 50-day simple moving average of $63.93 and a 200-day simple moving average of $61.51. The stock has a market capitalization of $275.77 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 4.15 and a beta of 0.90. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. 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 earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The business had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 earnings per share. On average, equities analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is 66.94%.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 8,726 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total value of $571,902.04. Following the completion of the sale, the executive vice president owned 174,669 shares of the company's stock, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Richard Scott Herren sold 15,678 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the sale, the chief financial officer directly owned 309,543 shares of the company's stock, valued at $20,281,257.36. This represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock valued at $6,271,054 in the last three months. 0.01% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several recent research reports. Citigroup upped their price objective 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. JPMorgan Chase & Co. boosted their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. New Street Research reiterated a "neutral" rating and issued a $70.00 target price on shares of Cisco Systems in a research note on Friday, May 16th. Finally, Piper Sandler boosted their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Seven 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.53.

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.

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