Csenge Advisory Group Reduces Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Csenge Advisory Group reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 14.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,899 shares of the network equipment provider's stock after selling 4,431 shares during the period. Csenge Advisory Group's holdings in Cisco Systems were worth $1,660,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CSCO. Navigoe LLC acquired a new position in Cisco Systems during the 4th quarter worth $26,000. Mpwm Advisory Solutions LLC bought a new position in Cisco Systems during the fourth quarter valued at about $26,000. JDM Financial Group LLC increased its stake 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 valued at $29,000 after acquiring an additional 300 shares during the period. Runnymede Capital Advisors Inc. bought a new position in Cisco Systems during the fourth quarter valued at about $30,000. Finally, Fairway Wealth LLC raised its position in Cisco Systems by 224.7% in the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock worth $36,000 after purchasing an additional 400 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Maria Victoria Wong sold 762 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total transaction of $48,821.34. Following the transaction, the senior vice president directly owned 36,937 shares of the company's stock, valued at approximately $2,366,553.59. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeetendra I. Patel sold 899 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $64.27, for a total transaction of $57,778.73. Following the transaction, the insider owned 255,377 shares in the company, valued at $16,413,079.79. This represents a 0.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock worth $6,271,054 over the last ninety days. Corporate insiders own 0.01% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Wolfe Research assumed coverage on shares of Cisco Systems in a research report on Tuesday, July 8th. They issued a "peer perform" rating for the company. Piper Sandler increased their price target 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. Evercore ISI increased their price target 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. Finally, CICC Research initiated coverage on shares of Cisco Systems in a report on Monday, July 14th. They set an "outperform" rating and a $78.00 price objective for the company. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $70.35.

Cisco Systems Stock Up 0.4%

Shares of CSCO traded up $0.29 on Monday, reaching $68.34. The company's stock had a trading volume of 14,668,327 shares, compared to its average volume of 20,281,128. The company has a current ratio of 0.95, a quick ratio of 0.87 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. The stock has a market capitalization of $270.63 billion, a PE ratio of 27.89, a PEG ratio of 4.07 and a beta of 0.90. The firm has a fifty day moving average of $65.84 and a 200-day moving average of $62.13.

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 for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The firm 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 company's revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 EPS. Equities analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.40%. Cisco Systems's payout ratio is 66.94%.

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.