Financial Counselors Inc. Reduces Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Financial Counselors Inc. lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 1.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,097,174 shares of the network equipment provider's stock after selling 14,053 shares during the period. Cisco Systems comprises about 1.0% of Financial Counselors Inc.'s investment portfolio, making the stock its 20th biggest holding. Financial Counselors Inc.'s holdings in Cisco Systems were worth $67,707,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Navigoe LLC bought a new stake in shares of Cisco Systems during the 4th quarter valued at $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems during the fourth quarter valued at about $26,000. JDM Financial Group LLC increased its position in Cisco Systems by 160.4% in the fourth 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 in the last quarter. Runnymede Capital Advisors Inc. purchased a new stake in Cisco Systems in the fourth quarter worth about $30,000. Finally, Campbell Capital Management Inc. bought a new position in shares of Cisco Systems in the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Activity at Cisco Systems

In other news, insider Jeetendra I. Patel sold 899 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total value of $57,778.73. Following the completion of the sale, the insider directly owned 255,377 shares of the company's stock, valued at $16,413,079.79. This trade represents a 0.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total value of $154,072.07. Following the transaction, the executive vice president directly owned 177,027 shares in the company, valued at approximately $11,331,498.27. This represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock valued at $6,271,054 over the last ninety days. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Stock Up 1.5%

NASDAQ CSCO opened at $69.64 on Monday. The stock has a 50 day moving average price of $63.93 and a 200-day moving average price of $61.51. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The company has a market capitalization of $275.77 billion, a P/E ratio of 28.42, a P/E/G 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 net margin of 17.60% and a return on equity of 26.48%. The business had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same quarter last year, the business earned $0.88 earnings per share. Cisco Systems's quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities analysts predict 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. Investors 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 annualized dividend and a yield of 2.35%. Cisco Systems's dividend payout ratio is currently 66.94%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CSCO. KeyCorp began 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. Piper Sandler upped their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Citigroup increased their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Barclays restated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a "hold" rating to a "buy" rating and upped their target price 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 issued 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 a consensus target price 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.

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