GFS Advisors LLC Sells 24,817 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

GFS Advisors LLC reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 50.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,892 shares of the network equipment provider's stock after selling 24,817 shares during the quarter. GFS Advisors LLC's holdings in Cisco Systems were worth $1,474,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Mainstream Capital Management LLC bought a new stake in Cisco Systems during the fourth quarter valued at about $132,000. Proficio Capital Partners LLC raised its holdings in Cisco Systems by 76.4% during 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 period. Investment Management Corp of Ontario raised its holdings in Cisco Systems by 44.6% during 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 acquiring an additional 59,680 shares during the period. AlTi Global Inc. raised its holdings in Cisco Systems by 49.8% during the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider's stock valued at $1,217,000 after acquiring an additional 6,811 shares during the period. Finally, Strategic Financial Concepts LLC bought a new stake in Cisco Systems during the fourth quarter valued at about $282,000. 73.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price target on Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Evercore ISI raised their price target on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. New Street Research reaffirmed a "neutral" rating and issued a $70.00 target price on shares of Cisco Systems in a report on Friday, May 16th. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Rosenblatt Securities lifted their target price on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.11.

Cisco Systems Trading Up 0.8%

CSCO opened at $65.84 on Thursday. The firm has a market cap of $260.73 billion, a P/E ratio of 26.87, a P/E/G ratio of 3.91 and a beta of 0.88. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average of $61.02 and a 200 day moving average of $60.69.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) 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 analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. Cisco Systems's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 earnings per share. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is 66.94%.

Insider Buying and Selling

In other news, CEO Charles Robbins sold 29,784 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the transaction, the chief executive officer now directly owns 688,409 shares of the company's stock, valued at approximately $44,478,105.49. This represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeetendra I. Patel sold 899 shares of the company's stock in a transaction 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 transaction, the insider now directly owns 255,377 shares in the company, valued at approximately $16,413,079.79. The trade was a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,931 shares of company stock valued at $4,671,930 over the last 90 days. Corporate insiders own 0.01% of the company's stock.

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.

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