Cisco Systems, Inc. (NASDAQ:CSCO) Stock Holdings Decreased by Avantax Planning Partners Inc.

Avantax Planning Partners Inc. lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 7.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 141,098 shares of the network equipment provider's stock after selling 10,888 shares during the period. Avantax Planning Partners Inc.'s holdings in Cisco Systems were worth $8,707,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC lifted its holdings in shares of Cisco Systems by 76.4% in the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock valued at $1,003,000 after purchasing an additional 7,338 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Cisco Systems by 28.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider's stock valued at $249,180,000 after purchasing an additional 904,548 shares in the last quarter. Investment Management Corp of Ontario lifted its holdings in shares of Cisco Systems by 44.6% in the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock valued at $11,454,000 after purchasing an additional 59,680 shares in the last quarter. AlTi Global Inc. lifted its holdings in shares of Cisco Systems by 49.8% in the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider's stock valued at $1,217,000 after purchasing an additional 6,811 shares in the last quarter. Finally, Investor s Fiduciary Advisor Network LLC purchased a new stake in shares of Cisco Systems in the fourth quarter valued at about $1,063,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CSCO. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. New Street Research reissued a "neutral" rating and set a $70.00 price objective on shares of Cisco Systems in a research note on Friday, May 16th. JPMorgan Chase & Co. upped 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. Piper Sandler upped 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. Finally, Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.53.

Insider Buying and Selling

In other news, EVP Deborah L. Stahlkopf sold 2,407 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total value of $154,072.07. Following the completion of the sale, the executive vice president owned 177,027 shares of the company's stock, valued at approximately $11,331,498.27. The trade was a 1.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeetendra I. Patel sold 899 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $64.27, for a total transaction of $57,778.73. Following the completion of the sale, the insider directly owned 255,377 shares of the company's stock, valued at $16,413,079.79. The trade was a 0.35% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Up 1.5%

Cisco Systems stock traded up $1.05 during midday trading on Friday, hitting $69.64. 17,973,495 shares of the stock were exchanged, compared to its average volume of 20,350,689. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $69.78. The firm has a market cap of $275.77 billion, a P/E ratio of 28.42, a P/E/G ratio of 4.15 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The company has a 50 day moving average price of $63.93 and a two-hundred day moving average price of $61.48.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly 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. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter in the previous year, the firm posted $0.88 EPS. The firm's quarterly revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share 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. Investors of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is 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.