Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Hudson Edge Investment Partners Inc.

Hudson Edge Investment Partners Inc. lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 112,455 shares of the network equipment provider's stock after selling 4,688 shares during the quarter. Cisco Systems makes up about 1.4% of Hudson Edge Investment Partners Inc.'s portfolio, making the stock its 11th biggest position. Hudson Edge Investment Partners Inc.'s holdings in Cisco Systems were worth $6,940,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Navigoe LLC purchased a new stake in Cisco Systems during the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC purchased a new stake in Cisco Systems during the fourth quarter valued at approximately $26,000. JDM Financial Group LLC boosted its position in shares of Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after purchasing an additional 300 shares in the last quarter. Runnymede Capital Advisors Inc. purchased a new position in Cisco Systems in the 4th quarter worth $30,000. Finally, Campbell Capital Management Inc. purchased a new position in Cisco Systems in the 4th quarter worth $31,000. Institutional investors own 73.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CSCO shares. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a "hold" rating to a "buy" rating and raised their target price for the stock from $65.00 to $73.00 in a research note on Monday, June 16th. Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. raised their target price on Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Finally, Piper Sandler raised their target price on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $69.53.

Cisco Systems Price Performance

CSCO stock traded up $1.05 during trading on Friday, hitting $69.64. The stock had a trading volume of 17,973,495 shares, compared to its average volume of 20,350,689. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78. The stock has a market capitalization of $275.77 billion, a P/E ratio of 28.42, a PEG ratio of 4.15 and a beta of 0.90. The company's 50-day moving average price is $63.93 and its two-hundred day moving average price is $61.45.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $14.05 billion. During the same period in the previous year, the firm posted $0.88 EPS. Cisco Systems's 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 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.35%. Cisco Systems's payout ratio is 66.94%.

Insiders Place Their Bets

In related news, insider Jeetendra I. Patel sold 899 shares of the company'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 transaction, the insider directly owned 255,377 shares in the company, valued at approximately $16,413,079.79. This represents a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the company'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 completion of the transaction, the executive vice president owned 177,027 shares in the company, valued at $11,331,498.27. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,335 shares of company stock worth $6,271,054. 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.