Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by M. Kulyk & Associates LLC

M. Kulyk & Associates LLC lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 14.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 178,558 shares of the network equipment provider's stock after selling 30,665 shares during the quarter. Cisco Systems accounts for about 2.5% of M. Kulyk & Associates LLC's investment portfolio, making the stock its 10th largest position. M. Kulyk & Associates LLC's holdings in Cisco Systems were worth $11,019,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Cisco Systems in the 4th quarter valued at $3,297,905,000. FMR LLC increased its position in shares of 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. Alyeska Investment Group L.P. acquired a new position in Cisco Systems during the fourth quarter worth approximately $413,491,000. GAMMA Investing LLC grew its position in shares of Cisco Systems by 7,096.5% in the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock valued at $414,593,000 after purchasing an additional 6,625,045 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Cisco Systems by 187.9% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider's stock valued at $442,749,000 after purchasing an additional 4,880,747 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Up 0.5%

Shares of CSCO traded up $0.37 on Friday, hitting $68.66. 4,394,366 shares of the stock traded hands, compared to its average volume of 21,273,119. The company has a market capitalization of $271.87 billion, a PE ratio of 28.03, a P/E/G ratio of 4.11 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The business has a 50 day simple moving average of $66.33 and a 200 day simple moving average of $62.35. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. The business had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The firm's 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, equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were given a $0.41 dividend. The ex-dividend date of this dividend was 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%.

Insider Buying and Selling

In other news, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the sale, the insider owned 257,162 shares of the company's stock, valued at approximately $16,450,653.14. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 29,784 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the transaction, the chief executive officer owned 688,409 shares in the company, valued at approximately $44,478,105.49. This represents a 4.15% 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 valued at $6,271,054 in the last quarter. 0.01% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Piper Sandler increased their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Evercore ISI increased their price target on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Morgan Stanley increased their price target on Cisco Systems from $67.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Finally, Wolfe Research assumed coverage on Cisco Systems in a report on Tuesday, July 8th. They set a "peer perform" rating for the company. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $70.35.

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.