Jmac Enterprises LLC lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 78.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,781 shares of the network equipment provider's stock after selling 21,070 shares during the period. Jmac Enterprises LLC's holdings in Cisco Systems were worth $357,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC lifted its position in shares of Cisco Systems by 3.9% during the 1st quarter. Flagship Harbor Advisors LLC now owns 32,346 shares of the network equipment provider's stock worth $1,996,000 after buying an additional 1,204 shares during the last quarter. Live Oak Private Wealth LLC lifted its position in shares of Cisco Systems by 0.5% during the 1st quarter. Live Oak Private Wealth LLC now owns 142,525 shares of the network equipment provider's stock worth $8,795,000 after buying an additional 725 shares during the last quarter. Ridgecrest Wealth Partners LLC lifted its position in shares of Cisco Systems by 1.0% during the 1st quarter. Ridgecrest Wealth Partners LLC now owns 27,162 shares of the network equipment provider's stock worth $1,676,000 after buying an additional 275 shares during the last quarter. 1858 Wealth Management LLC lifted its position in shares of Cisco Systems by 72.2% during the 1st quarter. 1858 Wealth Management LLC now owns 33,854 shares of the network equipment provider's stock worth $2,089,000 after buying an additional 14,198 shares during the last quarter. Finally, Wolff Wiese Magana LLC lifted its position in shares of Cisco Systems by 0.6% during the 1st quarter. Wolff Wiese Magana LLC now owns 43,476 shares of the network equipment provider's stock worth $2,683,000 after buying an additional 277 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.
Insider Activity at Cisco Systems
In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total transaction of $48,821.34. Following the sale, the senior vice president now directly owns 36,937 shares of the company's stock, valued at $2,366,553.59. This trade represents a 2.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the sale, the executive vice president now directly owns 174,669 shares in the company, valued at $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,335 shares of company stock valued at $6,271,054. Insiders own 0.01% of the company's stock.
Wall Street Analysts Forecast Growth
CSCO has been the subject of several research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and upped their price target for the company from $65.00 to $73.00 in a research report on Monday, June 16th. Citigroup upped their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. New Street Research reiterated a "neutral" rating and issued a $70.00 price target on shares of Cisco Systems in a research report on Friday, May 16th. Rosenblatt Securities upped their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, Piper Sandler upped their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems presently has an average rating of "Moderate Buy" and an average price target of $69.11.
Check Out Our Latest Analysis on CSCO
Cisco Systems Stock Performance
Shares of CSCO opened at $66.32 on Monday. The company has a 50-day simple moving average of $61.38 and a 200-day simple moving average of $60.80. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $262.63 billion, a PE ratio of 27.07, a P/E/G ratio of 3.97 and a beta of 0.88. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.65.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The firm 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 firm's revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.88 EPS. Equities research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.
Cisco Systems Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.47%. Cisco Systems's payout ratio is 66.94%.
About Cisco Systems
(
Free Report)
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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