Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. cut its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 42.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 130,468 shares of the network equipment provider's stock after selling 97,535 shares during the period. Bessemer Group Inc.'s holdings in Cisco Systems were worth $8,051,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Navigoe LLC acquired a new stake in Cisco Systems during the fourth quarter worth about $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems during the fourth quarter worth about $26,000. JDM Financial Group LLC grew its holdings in Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after acquiring an additional 300 shares during the period. Runnymede Capital Advisors Inc. acquired a new stake in Cisco Systems during the fourth quarter worth about $30,000. Finally, Campbell Capital Management Inc. acquired a new stake in Cisco Systems during the fourth quarter worth about $31,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

CSCO opened at $68.95 on Friday. The stock has a market cap of $273.04 billion, a P/E ratio of 28.14, a P/E/G ratio of 4.08 and a beta of 0.88. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The stock's 50 day simple moving average is $62.31 and its 200 day simple moving average is $61.02. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $69.25.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter in the prior year, the firm posted $0.88 EPS. The company's revenue was up 11.4% compared to the same quarter last year. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared 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. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio is presently 66.94%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CSCO. Citigroup increased their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. KeyCorp began coverage on Cisco Systems in a research report on Thursday. They issued an "overweight" rating and a $77.00 target price on the stock. Piper Sandler raised their target price on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Finally, Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, Cisco Systems presently has an average rating of "Moderate Buy" and a consensus target price of $69.53.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 9,643 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the transaction, the executive vice president now owns 181,186 shares of the company's stock, valued at $11,505,311. This represents a 5.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Charles Robbins sold 29,784 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer now directly owns 688,409 shares in the company, valued at approximately $44,478,105.49. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock valued at $6,271,054 in the last quarter. 0.01% of the stock is currently owned by company insiders.

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.

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