Hennessy Advisors Inc. Sells 63,550 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Hennessy Advisors Inc. lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 29.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 153,250 shares of the network equipment provider's stock after selling 63,550 shares during the period. Hennessy Advisors Inc.'s holdings in Cisco Systems were worth $9,457,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems in the 4th quarter valued at $26,000. Navigoe LLC acquired a new stake in shares of Cisco Systems in the 4th quarter valued at $26,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Cisco Systems in the 4th quarter valued at $26,000. JDM Financial Group LLC lifted its position 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 worth $29,000 after buying an additional 300 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Activity

In related news, EVP Deborah L. Stahlkopf sold 2,407 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total transaction of $154,072.07. Following the completion of the sale, the executive vice president now directly owns 177,027 shares of the company's stock, valued at approximately $11,331,498.27. This represents a 1.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Robbins sold 29,784 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the sale, the chief executive officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,931 shares of company stock valued at $4,671,930 in the last ninety days. 0.01% of the stock is owned by insiders.

Cisco Systems Trading Up 2.2%

Shares of CSCO stock traded up $1.42 on Monday, reaching $65.51. The company had a trading volume of 16,881,288 shares, compared to its average volume of 20,148,958. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The stock has a market cap of $259.42 billion, a PE ratio of 28.61, a PEG ratio of 4.16 and a beta of 0.88. The company has a 50-day moving average of $60.72 and a 200-day moving average of $60.62. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Cisco Systems's revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 EPS. On average, equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.50%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CSCO. Citigroup upped their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Rosenblatt Securities upped their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. 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. DZ Bank upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. Finally, Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $69.11.

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.