Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 386,046 shares of the network equipment provider's stock after selling 13,628 shares during the period. Cisco Systems comprises approximately 1.4% of Bryn Mawr Capital Management LLC's portfolio, making the stock its 12th biggest holding. Bryn Mawr Capital Management LLC's holdings in Cisco Systems were worth $23,823,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Glass Jacobson Investment Advisors llc grew its position in Cisco Systems by 8.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock worth $123,000 after purchasing an additional 166 shares during the last quarter. BlackDiamond Wealth Management LLC grew its position in Cisco Systems by 3.1% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock worth $335,000 after purchasing an additional 168 shares during the last quarter. Legacy Financial Group Inc. grew its position in Cisco Systems by 3.4% during the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock worth $302,000 after purchasing an additional 169 shares during the last quarter. Capital Advantage Inc. grew its position in 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 last quarter. Finally, Lynx Investment Advisory grew its position in 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. 73.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. New Street Research reissued a "neutral" rating and set a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $72.00 to $75.00 in a report on Thursday, May 15th. JPMorgan Chase & Co. lifted their target price on shares of Cisco Systems from $73.00 to $78.00 and gave the company an "overweight" rating in a report on Thursday. 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 research note on Thursday, May 15th. Finally, Evercore ISI raised their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $70.35.

Cisco Systems Trading Down 0.4%

Shares of NASDAQ:CSCO traded down $0.25 during trading on Friday, reaching $68.05. The stock had a trading volume of 15,635,018 shares, compared to its average volume of 20,286,720. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $69.78. The business has a fifty day moving average price of $65.67 and a 200-day moving average price of $62.03. The stock has a market cap of $269.48 billion, a P/E ratio of 27.78, a PEG ratio of 4.03 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 (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. Cisco Systems's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the business earned $0.88 EPS. As a group, analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal 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 paid a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.41%. Cisco Systems's dividend payout ratio is currently 66.94%.

Insider Activity at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total value of $48,821.34. Following the completion of the transaction, the senior vice president directly owned 36,937 shares in the company, valued at approximately $2,366,553.59. This represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total transaction of $571,902.04. Following the completion of the transaction, the executive vice president owned 174,669 shares of the company's stock, valued at $11,447,806.26. This trade represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock valued at $6,271,054 over the last quarter. 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.