Donoghue Forlines LLC Trims Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Donoghue Forlines LLC reduced its stake in Cisco Systems by 40.9%, owning 37,245 shares after selling 25,816 shares during the first quarter, valuing their holdings at $2,298,000.
• Cisco reported a quarterly revenue of $14.15 billion, exceeding analysts' expectations of $14.05 billion, with earnings per share of $0.96, surpassing the consensus estimate of $0.92.
• The company recently declared a quarterly dividend of $0.41, resulting in an annualized dividend yield of 2.3% and a payout ratio of 66.94%.

Donoghue Forlines LLC lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 40.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,245 shares of the network equipment provider's stock after selling 25,816 shares during the quarter. Donoghue Forlines LLC's holdings in Cisco Systems were worth $2,298,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CSCO. Navigoe LLC purchased a new position in shares of Cisco Systems in the 4th quarter worth $26,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Cisco Systems in the 4th quarter worth $26,000. JDM Financial Group LLC raised its position 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 buying an additional 300 shares during the period. Fairway Wealth LLC raised its position 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 buying an additional 400 shares during the period. Finally, Accent Capital Management LLC purchased a new position in shares of Cisco Systems in the 1st quarter worth $36,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $71.79 on Friday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $72.02. The stock has a market cap of $284.29 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 3.88 and a beta of 0.91. The stock's 50 day moving average price is $67.49 and its 200 day moving average price is $63.03. 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 earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS 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 firm had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter in the previous year, the company earned $0.88 earnings per share. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were given a $0.41 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.3%. Cisco Systems's payout ratio is 66.94%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 9,643 shares of Cisco Systems 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 transaction, the executive vice president directly owned 181,186 shares in the company, valued at approximately $11,505,311. The trade was a 5.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 15,678 shares of Cisco Systems stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the transaction, the chief financial officer owned 309,543 shares in the company, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock valued at $6,271,054 in the last 90 days. 0.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CSCO. Evercore ISI reiterated an "in-line" rating and issued a $72.00 price target on shares of Cisco Systems in a report on Monday, July 28th. Piper Sandler increased their price target on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Wall Street Zen downgraded Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Wolfe Research assumed coverage on Cisco Systems in a research note on Tuesday, July 8th. They set a "peer perform" rating for the company. Finally, CICC Research assumed coverage on shares of Cisco Systems in a research report on Monday, July 14th. They set an "outperform" rating and a $78.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $70.55.

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.

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