Cisco Systems, Inc. (NASDAQ:CSCO) is CCM Investment Advisers LLC's 9th Largest Position

CCM Investment Advisers LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 318,225 shares of the network equipment provider's stock after selling 8,078 shares during the period. Cisco Systems accounts for 2.4% of CCM Investment Advisers LLC's holdings, making the stock its 9th biggest holding. CCM Investment Advisers LLC's holdings in Cisco Systems were worth $19,638,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new stake in Cisco Systems during the fourth quarter valued at approximately $26,000. Navigoe LLC acquired a new position in shares of Cisco Systems during the fourth quarter worth $26,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Cisco Systems during the 4th quarter valued at $26,000. JDM Financial Group LLC boosted its position 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 worth $29,000 after purchasing an additional 300 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new position in Cisco Systems during the 4th quarter worth $30,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CSCO shares. Evercore ISI increased their price target on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Piper Sandler boosted their target price 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. Wall Street Zen raised shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Finally, New Street Research reiterated a "neutral" rating and set a $70.00 price objective on shares of Cisco Systems in a research note on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and an average target price of $68.00.

Insider Buying and Selling at Cisco Systems

In related news, insider Jeetendra I. Patel sold 9,961 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the completion of the sale, the insider now owns 257,162 shares of the company's stock, valued at approximately $16,450,653.14. The trade was a 3.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 4,185 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total transaction of $265,789.35. Following the transaction, the senior vice president now owns 38,103 shares of the company's stock, valued at $2,419,921.53. This represents a 9.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,931 shares of company stock valued at $4,671,930. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

Shares of CSCO stock traded down $1.01 on Friday, hitting $64.09. The company had a trading volume of 14,630,776 shares, compared to its average volume of 20,161,810. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The firm has a market cap of $253.80 billion, a P/E ratio of 27.99, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. The company has a 50-day moving average price of $60.47 and a 200-day moving average price of $60.57.

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 the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The company had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same period last year, the business earned $0.88 earnings per share. Cisco Systems's quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company 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 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 2.56%. Cisco Systems's dividend payout ratio is presently 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.