Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by DT Investment Partners LLC

DT Investment Partners LLC reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 15.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,335 shares of the network equipment provider's stock after selling 4,031 shares during the quarter. DT Investment Partners LLC's holdings in Cisco Systems were worth $1,317,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Navigoe LLC purchased a new stake in shares of Cisco Systems in the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC purchased a new stake in Cisco Systems during the 4th quarter valued at approximately $26,000. JDM Financial Group LLC raised its stake in Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after acquiring an additional 300 shares during the last quarter. Runnymede Capital Advisors Inc. purchased a new stake in Cisco Systems during the 4th quarter valued at approximately $30,000. Finally, Campbell Capital Management Inc. purchased a new stake in Cisco Systems during the 4th quarter valued at approximately $31,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Down 0.5%

NASDAQ:CSCO traded down $0.34 during mid-day trading on Tuesday, hitting $68.59. The company had a trading volume of 16,312,629 shares, compared to its average volume of 20,349,085. The business has a fifty day simple moving average of $64.18 and a 200-day simple moving average of $61.58. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $69.78. The firm has a market capitalization of $271.62 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 4.15 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating 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 analyst estimates of $14.05 billion. During the same period last year, the company posted $0.88 earnings per share. The firm's revenue was up 11.4% compared to the same quarter last year. Equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders 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 dividend yield of 2.39%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 15,678 shares of Cisco Systems stock in a transaction dated 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 sale, the chief financial officer directly owned 309,543 shares of the company's stock, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,726 shares of Cisco Systems stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the sale, the executive vice president directly owned 174,669 shares in the company, valued at approximately $11,447,806.26. The trade was a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,335 shares of company stock valued at $6,271,054. Company insiders own 0.01% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on CSCO shares. KeyCorp assumed coverage on Cisco Systems in a research note on Thursday, June 26th. They set an "overweight" rating and a $77.00 price objective for the company. Citigroup upped their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Finally, Piper Sandler increased 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. Eight 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.com, Cisco Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.53.

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.