Cypress Capital Group Sells 14,288 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Cypress Capital Group reduced its stake in Cisco Systems by 15.8%, selling 14,288 shares and ending the period with 76,257 shares valued at approximately $4.7 million.
• Insiders have recently sold a total of 97,335 shares of Cisco stock valued at over $6.2 million, indicating a significant decrease in their ownership stakes.
• Analysts have raised price targets for Cisco, with estimates now ranging up to $77.00 and a consensus rating of "Moderate Buy" from various research firms.

Cypress Capital Group lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 15.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,257 shares of the network equipment provider's stock after selling 14,288 shares during the period. Cypress Capital Group's holdings in Cisco Systems were worth $4,706,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSCO. Navigoe LLC bought a new stake in shares of Cisco Systems in the 4th quarter worth $26,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Cisco Systems in the 4th quarter worth $26,000. JDM Financial Group LLC increased its holdings in shares of Cisco Systems by 160.4% in the 4th 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 in the last quarter. Pandora Wealth Inc. bought a new stake in shares of Cisco Systems in the 1st quarter worth $31,000. Finally, Fairway Wealth LLC increased its holdings in shares of Cisco Systems by 224.7% in the 1st 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. Institutional investors own 73.33% of the company's stock.

Insider Activity

In other news, insider Jeetendra I. Patel sold 9,961 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.97, for a total transaction of $637,205.17. Following the transaction, the insider owned 257,162 shares of the company's stock, valued at approximately $16,450,653.14. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Oliver Tuszik sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the transaction, the executive vice president directly owned 131,676 shares in the company, valued at approximately $8,365,376.28. This represents a 10.23% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on CSCO. Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Evercore ISI restated an "in-line" rating and issued a $72.00 price target on shares of Cisco Systems in a research note on Monday, July 28th. Piper Sandler raised their price target on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a "hold" rating to a "buy" rating and raised their price target for the stock from $65.00 to $73.00 in a research note on Monday, June 16th. Finally, KeyCorp began coverage on Cisco Systems in a research report on Thursday, June 26th. They set an "overweight" rating and a $77.00 target price on the stock. Eight analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $70.55.

Cisco Systems Trading Up 2.7%

Shares of NASDAQ CSCO opened at $71.79 on Monday. The business's 50 day moving average is $67.49 and its two-hundred day moving average is $63.05. 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, Inc. has a 1-year low of $44.50 and a 1-year high of $72.02. The stock has a market capitalization of $284.29 billion, a P/E ratio of 29.30, a PEG ratio of 3.98 and a beta of 0.91.

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 for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same period in the previous year, the firm posted $0.88 earnings per share. The firm's revenue for the quarter was up 11.4% on a year-over-year basis. As a group, research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.3%. Cisco Systems's dividend payout ratio is currently 66.94%.

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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