Nichols & Pratt Advisers LLP MA Sells 14,302 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Nichols & Pratt Advisers LLP MA cut its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 192,068 shares of the network equipment provider's stock after selling 14,302 shares during the quarter. Nichols & Pratt Advisers LLP MA's holdings in Cisco Systems were worth $11,853,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Navigoe LLC purchased a new position in shares of Cisco Systems in the fourth quarter valued at $26,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Cisco Systems in the fourth quarter valued at $26,000. JDM Financial Group LLC grew its position 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 purchasing an additional 300 shares in the last quarter. Runnymede Capital Advisors Inc. purchased a new position in shares of Cisco Systems in the fourth quarter valued at $30,000. Finally, Campbell Capital Management Inc. purchased a new position in shares of Cisco Systems in the fourth quarter valued at $31,000. 73.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CSCO has been the subject of several recent research reports. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Evercore ISI boosted their target price on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Piper Sandler boosted their target price on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Finally, Rosenblatt Securities boosted their target price on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems currently has an average rating of "Moderate Buy" and an average price target of $69.53.

Cisco Systems Trading Up 1.5%

Shares of NASDAQ CSCO traded up $1.05 during midday trading on Friday, reaching $69.64. The company had a trading volume of 17,973,495 shares, compared to its average volume of 20,328,057. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78. 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 firm's fifty day moving average price is $63.93 and its 200-day moving average price is $61.45. The stock has a market cap of $275.77 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 4.15 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results 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. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the previous year, the company posted $0.88 EPS. Cisco Systems's revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Insider Buying and Selling

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,726 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the completion of the transaction, the executive vice president owned 174,669 shares of the company's stock, valued at $11,447,806.26. This represents a 4.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the transaction, the chief financial officer directly owned 309,543 shares of the company's stock, valued at $20,281,257.36. The trade was a 4.82% 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 worth $6,271,054 in the last 90 days. 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.