Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 13.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,200,994 shares of the network equipment provider's stock after selling 190,724 shares during the quarter. Fort Washington Investment Advisors Inc. OH's holdings in Cisco Systems were worth $74,113,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Tallon Kerry Patrick bought a new position in shares of Cisco Systems during the 4th quarter worth about $603,000. Brighton Jones LLC raised its holdings in shares of Cisco Systems by 49.5% in the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock valued at $4,392,000 after buying an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Cisco Systems by 37.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock worth $542,000 after purchasing an additional 2,474 shares in the last quarter. Sapient Capital LLC boosted its position in Cisco Systems by 3.5% in the 4th quarter. Sapient Capital LLC now owns 24,776 shares of the network equipment provider's stock valued at $1,467,000 after buying an additional 839 shares during the last quarter. Finally, Sovran Advisors LLC acquired a new stake in Cisco Systems in the fourth quarter worth about $541,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Price Performance

NASDAQ CSCO traded down $1.07 on Friday, reaching $64.03. 9,322,760 shares of the company's stock traded hands, compared to its average volume of 20,125,494. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The stock has a market cap of $253.55 billion, a PE ratio of 27.96, a P/E/G ratio of 4.16 and a beta of 0.88. The stock has a 50-day simple moving average of $60.25 and a 200 day simple moving average of $60.53. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data 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 net margin of 16.96% and a return on equity of 26.08%. The business had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same period last year, the business posted $0.88 earnings per share. Cisco Systems's quarterly revenue was up 11.4% compared to the same quarter last year. As a group, research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is currently 66.94%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Piper Sandler upped their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Morgan Stanley reissued a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. DZ Bank raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. UBS Group increased their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Finally, Rosenblatt Securities lifted their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Cisco Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.00.

Insiders Place Their Bets

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 now directly owns 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, CEO Charles Robbins sold 29,784 shares of the business's stock in a transaction 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 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. Insiders sold a total of 72,931 shares of company stock worth $4,671,930 over the last three months. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Company 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.