Synergy Asset Management LLC Has $5.25 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Synergy Asset Management LLC reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 7.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,073 shares of the network equipment provider's stock after selling 7,104 shares during the quarter. Synergy Asset Management LLC's holdings in Cisco Systems were worth $5,250,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FMR LLC boosted its stake in Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock valued at $4,571,218,000 after acquiring an additional 13,285,052 shares during the last quarter. Norges Bank bought a new position in Cisco Systems in the fourth quarter valued at approximately $3,297,905,000. Northern Trust Corp boosted its stake in Cisco Systems by 11.4% in the fourth quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock valued at $2,796,505,000 after acquiring an additional 4,832,813 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Cisco Systems by 7.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider's stock valued at $2,159,099,000 after acquiring an additional 2,637,006 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Cisco Systems by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider's stock valued at $1,741,597,000 after acquiring an additional 681,555 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Up 1.6%

Shares of NASDAQ:CSCO traded up $1.06 during midday trading on Monday, reaching $67.38. 33,917,945 shares of the company were exchanged, compared to its average volume of 20,152,340. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $67.74. 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 stock has a fifty day simple moving average of $61.38 and a two-hundred day simple moving average of $60.80. The firm has a market cap of $266.82 billion, a PE ratio of 27.50, a P/E/G ratio of 3.97 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm 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%. The company's revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 EPS. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is 66.94%.

Analyst Ratings Changes

CSCO has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Citigroup raised their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Piper Sandler raised their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and increased their target price for the stock from $65.00 to $73.00 in a report on Monday, June 16th. Finally, Evercore ISI increased their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, Cisco Systems has a consensus rating of "Moderate Buy" and an average price target of $69.11.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total transaction of $48,821.34. Following the sale, the senior vice president now owns 36,937 shares in the company, valued at $2,366,553.59. This represents a 2.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the business'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 value of $571,902.04. Following the transaction, the executive vice president now directly owns 174,669 shares in the company, valued at $11,447,806.26. The trade was a 4.76% decrease in their ownership of the stock. 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. Corporate insiders own 0.01% of the company's stock.

About Cisco Systems

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.