Cisco Systems, Inc. (NASDAQ:CSCO) Stake Reduced by Ninety One UK Ltd

Ninety One UK Ltd lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 195,689 shares of the network equipment provider's stock after selling 7,851 shares during the period. Ninety One UK Ltd's holdings in Cisco Systems were worth $12,076,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CSCO. Rosenblatt Securities raised their target price on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Piper Sandler lifted their target price on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Barclays restated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. KeyCorp assumed coverage on Cisco Systems in a report on Thursday, June 26th. They set an "overweight" rating and a $77.00 target price on the stock. Finally, Evercore ISI boosted their price target on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $69.53.

Cisco Systems Trading Down 0.5%

Shares of Cisco Systems stock opened at $68.59 on Wednesday. The firm has a market cap of $271.62 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 4.12 and a beta of 0.90. The business has a 50-day moving average price of $64.40 and a 200-day moving average price of $61.63. 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, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its 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. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business 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 business earned $0.88 earnings per share. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio is currently 66.94%.

Insiders Place Their Bets

In other news, EVP Oliver Tuszik sold 15,000 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the sale, the executive vice president directly owned 131,676 shares of the company's stock, valued at $8,365,376.28. The trade was a 10.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the transaction, the executive vice president owned 181,186 shares of the company's stock, valued at approximately $11,505,311. This trade represents a 5.05% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is currently owned by company insiders.

Cisco Systems 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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