DT Investment Partners LLC Sells 4,031 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

DT Investment Partners LLC lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 15.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 21,335 shares of the network equipment provider's stock after selling 4,031 shares during the period. DT Investment Partners LLC's holdings in Cisco Systems were worth $1,317,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CSCO. Proficio Capital Partners LLC boosted its holdings in Cisco Systems by 76.4% in the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock valued at $1,003,000 after acquiring an additional 7,338 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Cisco Systems by 28.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider's stock valued at $249,180,000 after buying an additional 904,548 shares during the period. Investment Management Corp of Ontario lifted its stake in Cisco Systems by 44.6% in the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock valued at $11,454,000 after buying an additional 59,680 shares during the period. AlTi Global Inc. lifted its stake in Cisco Systems by 49.8% in the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider's stock valued at $1,217,000 after buying an additional 6,811 shares during the period. Finally, Investor s Fiduciary Advisor Network LLC acquired a new position in Cisco Systems in the fourth quarter valued at about $1,063,000. Institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Up 1.5%

Cisco Systems stock traded up $1.05 during midday trading on Friday, reaching $69.64. The stock had a trading volume of 17,973,495 shares, compared to its average volume of 20,350,689. The firm's fifty day simple moving average is $63.93 and its 200-day simple moving average is $61.51. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $69.78. The stock has a market capitalization of $275.77 billion, a P/E ratio of 28.42, a price-to-earnings-growth ratio of 4.15 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly 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 return on equity of 26.48% and a net margin of 17.60%. The business's revenue was up 11.4% compared to the same quarter last year. During the same period last year, the company earned $0.88 earnings per share. As a group, analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid 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 2.35%. Cisco Systems's dividend payout ratio is 66.94%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 15,678 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the transaction, the chief financial officer directly owned 309,543 shares in the company, valued at $20,281,257.36. This trade represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Oliver Tuszik sold 15,000 shares of the firm'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 completion of the transaction, the executive vice president owned 131,676 shares of the company's stock, valued at approximately $8,365,376.28. This represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is owned by insiders.

Analyst Ratings Changes

CSCO has been the topic of several analyst reports. Rosenblatt Securities increased their target price on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Piper Sandler increased their target price on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Citigroup increased their target price on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Morgan Stanley reissued a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, Deutsche Bank Aktiengesellschaft raised 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 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $69.53.

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.