Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Trust Point Inc.

Trust Point Inc. trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 17.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,939 shares of the network equipment provider's stock after selling 5,559 shares during the quarter. Trust Point Inc.'s holdings in Cisco Systems were worth $1,601,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CSCO. FPC Investment Advisory Inc. purchased a new stake in Cisco Systems during the 4th quarter worth about $26,000. Navigoe LLC purchased a new stake in Cisco Systems during the 4th quarter worth about $26,000. Mpwm Advisory Solutions LLC purchased a new stake in Cisco Systems during the 4th quarter worth about $26,000. JDM Financial Group LLC lifted its holdings in Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after buying an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Cisco Systems during the 4th quarter worth about $30,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Down 1.6%

CSCO opened at $64.09 on Monday. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average price of $60.47 and a two-hundred day moving average price of $60.58. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The company has a market cap of $253.80 billion, a PE ratio of 27.99, a P/E/G ratio of 4.16 and a beta of 0.88.

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 (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 EPS. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CSCO. Rosenblatt Securities boosted 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 target price on Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Piper Sandler boosted their target price on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Morgan Stanley reissued a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Barclays reissued an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $68.00.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.97, for a total value of $637,205.17. Following the completion of the transaction, the insider now directly owns 257,162 shares in the company, valued at $16,450,653.14. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,931 shares of company stock worth $4,671,930. 0.01% of the stock is owned by 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.

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