Community Financial Services Group LLC Has $2.32 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Community Financial Services Group LLC cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 21.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,618 shares of the network equipment provider's stock after selling 10,263 shares during the period. Community Financial Services Group LLC's holdings in Cisco Systems were worth $2,321,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of CSCO. Navigoe LLC acquired a new position in shares of Cisco Systems in the fourth quarter valued at about $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems during the fourth quarter worth about $26,000. JDM Financial Group LLC lifted its position in 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 period. Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems during the fourth quarter worth about $30,000. Finally, Campbell Capital Management Inc. bought a new stake in Cisco Systems during the fourth quarter worth about $31,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Up 1.6%

Shares of NASDAQ CSCO opened at $67.38 on Tuesday. The company has a 50 day simple moving average of $61.58 and a 200 day simple moving average of $60.85. The firm has a market cap of $266.82 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 3.97 and a beta of 0.88. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $67.86. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The business had revenue of $14.15 billion during 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 firm's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business earned $0.88 EPS. On average, research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

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 dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.43%. Cisco Systems's payout ratio is 66.94%.

Insiders Place Their Bets

In other news, EVP Deborah L. Stahlkopf sold 9,643 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the sale, the executive vice president now owns 181,186 shares of the company's stock, valued at $11,505,311. This trade represents a 5.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Thimaya K. Subaiya sold 8,726 shares of Cisco Systems stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total transaction of $571,902.04. Following the completion of the sale, the executive vice president now directly owns 174,669 shares of the company's stock, valued at approximately $11,447,806.26. The trade was a 4.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Citigroup upped their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Piper Sandler upped their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Finally, Evercore ISI upped their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $69.11.

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.

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