Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by CX Institutional

CX Institutional reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 10.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 123,637 shares of the network equipment provider's stock after selling 13,973 shares during the period. CX Institutional's holdings in Cisco Systems were worth $7,630,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Glass Jacobson Investment Advisors llc raised its holdings in shares of Cisco Systems by 8.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock valued at $123,000 after buying an additional 166 shares during the last quarter. Fairhaven Wealth Management LLC grew its position in shares of Cisco Systems by 2.3% during the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider's stock worth $449,000 after buying an additional 167 shares during the period. BlackDiamond Wealth Management LLC grew its position in shares of Cisco Systems by 3.1% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock worth $335,000 after buying an additional 168 shares during the period. Legacy Financial Group Inc. lifted its holdings in shares of Cisco Systems by 3.4% during the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock valued at $302,000 after purchasing an additional 169 shares in the last quarter. Finally, Maple Capital Management Inc. grew its position in shares of Cisco Systems by 1.4% in the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider's stock valued at $709,000 after purchasing an additional 170 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on CSCO. Wall Street Zen raised Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Piper Sandler increased their price objective on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. Citigroup raised their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Rosenblatt Securities raised their price objective on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $68.00.

Cisco Systems Stock Performance

Shares of CSCO traded down $1.01 during trading hours on Friday, hitting $64.09. The stock had a trading volume of 14,630,776 shares, compared to its average volume of 20,161,810. The stock has a fifty day moving average price of $60.47 and a 200 day moving average price of $60.56. The firm has a market capitalization of $253.80 billion, a PE ratio of 27.99, a PEG ratio of 4.16 and a beta of 0.88. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50.

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 company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 earnings per share. Analysts anticipate 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. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Insider Buying and Selling at Cisco Systems

In related news, EVP Oliver Tuszik sold 15,000 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total value of $952,950.00. Following the completion of the transaction, the executive vice president now owns 131,676 shares of the company's stock, valued at approximately $8,365,376.28. This represents a 10.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $1,924,344.24. Following the completion of the sale, the chief executive officer now directly owns 688,409 shares of the company's stock, valued at approximately $44,478,105.49. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,931 shares of company stock worth $4,671,930. 0.01% of the stock is currently owned by insiders.

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.