Cisco Systems, Inc. (NASDAQ:CSCO) is Metropolis Capital Ltd's 9th Largest Position

Metropolis Capital Ltd decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 40.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,561,113 shares of the network equipment provider's stock after selling 1,741,048 shares during the quarter. Cisco Systems comprises about 5.9% of Metropolis Capital Ltd's investment portfolio, making the stock its 9th largest position. Metropolis Capital Ltd owned about 0.06% of Cisco Systems worth $158,046,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter valued at $26,000. Navigoe LLC purchased a new stake in shares of Cisco Systems in the fourth quarter valued at $26,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Cisco Systems in the fourth quarter valued at $26,000. JDM Financial Group LLC raised its stake in shares of Cisco Systems by 160.4% in the fourth 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 period. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CSCO. Piper Sandler increased 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. Evercore ISI raised their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Finally, New Street Research reaffirmed a "neutral" rating and issued a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Cisco Systems has a consensus rating of "Moderate Buy" and an average price target of $68.00.

Cisco Systems Trading Down 1.6%

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

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The business's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 earnings per share. On average, analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Insiders Place Their Bets

In other news, EVP Deborah L. Stahlkopf sold 9,643 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the sale, the executive vice president now owns 181,186 shares in the company, valued at approximately $11,505,311. The trade was a 5.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeetendra I. Patel sold 899 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total transaction of $57,778.73. Following the sale, the insider now owns 255,377 shares of the company's stock, valued at $16,413,079.79. This represents a 0.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,931 shares of company stock worth $4,671,930 in the last 90 days. Corporate insiders own 0.01% of the company's stock.

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.