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Daymark Wealth Partners LLC Sells 92,671 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

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Daymark Wealth Partners LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 23.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 302,889 shares of the network equipment provider's stock after selling 92,671 shares during the quarter. Daymark Wealth Partners LLC's holdings in Cisco Systems were worth $18,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of CSCO. Golden State Equity Partners grew its stake in shares of Cisco Systems by 88.4% during the 1st quarter. Golden State Equity Partners now owns 26,664 shares of the network equipment provider's stock worth $1,645,000 after acquiring an additional 12,513 shares during the period. Lecap Asset Management Ltd. bought a new position in shares of Cisco Systems during the 1st quarter worth $299,000. Global Assets Advisory LLC bought a new position in shares of Cisco Systems during the 1st quarter worth $237,000. Field & Main Bank grew its stake in shares of Cisco Systems by 10.4% during the 1st quarter. Field & Main Bank now owns 23,377 shares of the network equipment provider's stock worth $1,442,000 after acquiring an additional 2,200 shares during the period. Finally, Silver Lake Advisory LLC grew its stake in shares of Cisco Systems by 0.8% during the 1st quarter. Silver Lake Advisory LLC now owns 129,335 shares of the network equipment provider's stock worth $7,981,000 after acquiring an additional 1,060 shares during the period. Institutional investors own 73.33% of the company's stock.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the firm'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 value of $48,821.34. Following the completion of the transaction, the senior vice president now owns 36,937 shares in the company, valued at $2,366,553.59. This trade represents a 2.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of the firm's 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 transaction, the chief executive officer now owns 688,409 shares of the company's stock, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is currently owned by insiders.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO traded down $0.30 on Friday, hitting $68.65. The company's stock had a trading volume of 26,213,514 shares, compared to its average volume of 20,249,980. The company has a 50-day simple moving average of $62.57 and a 200 day simple moving average of $61.08. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $69.22. The company has a market capitalization of $271.85 billion, a PE ratio of 28.02, a PEG ratio of 4.12 and a beta of 0.88. 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 announced its quarterly earnings data 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. 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 last year, the firm posted $0.88 EPS. Cisco Systems's revenue for the quarter was up 11.4% compared to the same quarter last year. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders 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 dividend yield of 2.39%. Cisco Systems's dividend payout ratio is currently 66.94%.

Analyst Upgrades and Downgrades

CSCO has been the subject of several research reports. KeyCorp initiated coverage on Cisco Systems in a research note on Thursday. They set an "overweight" rating and a $77.00 price target for the company. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Evercore ISI increased their price target on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Rosenblatt Securities increased their price objective on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, Deutsche Bank Aktiengesellschaft raised Cisco Systems from a "hold" rating to a "buy" rating and increased their price objective for the stock from $65.00 to $73.00 in a report on Monday, June 16th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $69.53.

Read Our Latest Report on CSCO

Cisco Systems Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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