Cadinha & Co. LLC Decreases Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Cadinha & Co. LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 8.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 214,328 shares of the network equipment provider's stock after selling 20,226 shares during the quarter. Cisco Systems accounts for approximately 2.8% of Cadinha & Co. LLC's investment portfolio, making the stock its 18th largest position. Cadinha & Co. LLC's holdings in Cisco Systems were worth $13,226,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Versant Capital Management Inc raised its stake in Cisco Systems by 114.7% during the first quarter. Versant Capital Management Inc now owns 16,366 shares of the network equipment provider's stock worth $1,010,000 after acquiring an additional 8,742 shares in the last quarter. First Hawaiian Bank raised its stake in Cisco Systems by 3.4% during the first quarter. First Hawaiian Bank now owns 42,731 shares of the network equipment provider's stock worth $2,637,000 after acquiring an additional 1,403 shares in the last quarter. Kera Capital Partners Inc. acquired a new position in Cisco Systems during the first quarter worth about $238,000. Marcum Wealth LLC raised its stake in Cisco Systems by 9.6% during the first quarter. Marcum Wealth LLC now owns 18,555 shares of the network equipment provider's stock worth $1,145,000 after acquiring an additional 1,629 shares in the last quarter. Finally, Neville Rodie & Shaw Inc. raised its stake in Cisco Systems by 1.9% during the first quarter. Neville Rodie & Shaw Inc. now owns 25,677 shares of the network equipment provider's stock worth $1,584,000 after acquiring an additional 482 shares in the last quarter. Institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Down 0.4%

NASDAQ CSCO traded down $0.24 on Friday, hitting $62.81. 25,829,006 shares of the company were exchanged, compared to its average volume of 20,244,721. The company has a market cap of $248.73 billion, a PE ratio of 27.43, a PEG ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The stock has a fifty day moving average of $59.30 and a 200-day moving average of $60.10. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

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, topping the consensus estimate 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%. Cisco Systems'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 earnings per share. As a group, analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its shares are undervalued.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio is currently 66.94%.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction on 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 in the company, valued at $11,604,868.80. This trade represents a 1.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Oliver Tuszik sold 15,000 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the transaction, the executive vice president now owns 131,676 shares in the company, valued at approximately $8,365,376.28. This trade represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,616 shares of company stock worth $2,640,095 in the last ninety days. Corporate insiders own 0.01% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Rosenblatt Securities upped their price objective on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, Piper Sandler upped their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.00.

Cisco Systems 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.