Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 162,204 shares of the network equipment provider's stock after selling 4,137 shares during the period. Atlantic Union Bankshares Corp's holdings in Cisco Systems were worth $10,009,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in Cisco Systems during the fourth quarter valued at about $3,297,905,000. FMR LLC increased its holdings in shares of Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock valued at $4,571,218,000 after purchasing an additional 13,285,052 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $413,491,000. GAMMA Investing LLC grew its holdings in Cisco Systems by 7,096.5% during the 1st quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock worth $414,593,000 after acquiring an additional 6,625,045 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in Cisco Systems by 187.9% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider's stock worth $442,749,000 after acquiring an additional 4,880,747 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Buying and Selling

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 9,643 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.50, for a total value of $612,330.50. Following the transaction, the executive vice president owned 181,186 shares in the company, valued at approximately $11,505,311. The trade was a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Oliver Tuszik sold 15,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total transaction of $952,950.00. Following the sale, the executive vice president directly owned 131,676 shares in the company, valued at $8,365,376.28. The trade was a 10.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock worth $6,271,054 over the last 90 days. Insiders own 0.01% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CSCO shares. Rosenblatt Securities upped their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Citigroup raised their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. boosted their price target on shares of Cisco Systems from $73.00 to $78.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Wall Street Zen lowered shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Cisco Systems currently has an average rating of "Moderate Buy" and a consensus price target of $70.35.

Cisco Systems Stock Down 0.4%

NASDAQ CSCO opened at $68.05 on Friday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $69.78. The company has a market cap of $269.48 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 4.07 and a beta of 0.90. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average of $65.84 and a 200-day moving average of $62.11.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion for 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 business's revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 EPS. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio is currently 66.94%.

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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