Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 150,155 shares of the network equipment provider's stock after selling 5,888 shares during the period. Sequoia Financial Advisors LLC's holdings in Cisco Systems were worth $9,266,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CSCO. Navigoe LLC acquired a new stake in Cisco Systems in the fourth quarter valued at $26,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Cisco Systems in the 4th quarter worth about $26,000. JDM Financial Group LLC grew its stake in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after acquiring an additional 300 shares during the last quarter. Runnymede Capital Advisors Inc. purchased a new position in Cisco Systems during the 4th quarter valued at about $30,000. Finally, Campbell Capital Management Inc. acquired a new position in Cisco Systems during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CSCO. KeyCorp initiated coverage on shares of Cisco Systems in a research report on Thursday. They issued an "overweight" rating and a $77.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a "hold" rating to a "buy" rating and upped their target price for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Rosenblatt Securities increased their target price on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. boosted their price target on Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Finally, Piper Sandler upped their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $69.53.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 29,784 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 688,409 shares of the company's stock, valued at $44,478,105.49. This represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the firm'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 sale, the executive vice president now owns 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 disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock valued at $6,271,054 over the last 90 days. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Trading Down 0.4%

Shares of CSCO traded down $0.30 during mid-day trading on Friday, hitting $68.65. The company had a trading volume of 26,213,514 shares, compared to its average volume of 20,235,179. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $69.25. The business's 50-day simple moving average is $62.31 and its 200-day simple moving average is $61.02. The stock has a market cap of $271.85 billion, a PE ratio of 28.02, a P/E/G ratio of 4.08 and a beta of 0.88. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly 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. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. Cisco Systems's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the business earned $0.88 EPS. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.39%. 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.