Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Butensky & Cohen Financial Security Inc.

Butensky & Cohen Financial Security Inc. lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,767 shares of the network equipment provider's stock after selling 4,017 shares during the quarter. Cisco Systems makes up about 1.7% of Butensky & Cohen Financial Security Inc.'s holdings, making the stock its 11th largest holding. Butensky & Cohen Financial Security Inc.'s holdings in Cisco Systems were worth $5,663,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Glass Jacobson Investment Advisors llc raised its holdings in shares of Cisco Systems by 8.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock valued at $123,000 after acquiring an additional 166 shares during the last quarter. Fairhaven Wealth Management LLC raised its holdings in shares of Cisco Systems by 2.3% during the fourth quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider's stock valued at $449,000 after acquiring an additional 167 shares during the last quarter. BlackDiamond Wealth Management LLC raised its holdings in shares of Cisco Systems by 3.1% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock valued at $335,000 after acquiring an additional 168 shares during the last quarter. Legacy Financial Group Inc. raised its holdings in shares of Cisco Systems by 3.4% during the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock valued at $302,000 after acquiring an additional 169 shares during the last quarter. Finally, Maple Capital Management Inc. increased its holdings in shares of Cisco Systems by 1.4% in the fourth quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider's stock valued at $709,000 after purchasing an additional 170 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 29,784 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the transaction, the chief executive officer now directly owns 688,409 shares in the company, valued at $44,478,105.49. This trade represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the transaction, the senior vice president now owns 44,155 shares of the company's stock, valued at approximately $2,693,013.45. This represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,400 shares of company stock worth $4,564,439 over the last ninety days. Company insiders own 0.01% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Citigroup increased their price target on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Piper Sandler increased their price target on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, New Street Research reaffirmed a "neutral" rating and issued a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.00.

Cisco Systems Trading Up 2.2%

Shares of Cisco Systems stock opened at $66.06 on Friday. The firm has a market capitalization of $261.60 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 4.16 and a beta of 0.88. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The stock has a 50 day moving average of $59.61 and a 200 day moving average of $60.34.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.88 earnings per share. As a group, research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems declared that its board has approved a stock repurchase program on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders 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 dividend yield of 2.48%. Cisco Systems's dividend payout ratio is currently 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.

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