Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Invesco LLC

Invesco LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 41.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,953 shares of the network equipment provider's stock after selling 11,988 shares during the quarter. Invesco LLC's holdings in Cisco Systems were worth $1,046,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC raised its position in Cisco Systems by 49.5% in the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock valued at $4,392,000 after purchasing an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock valued at $542,000 after purchasing an additional 2,474 shares during the period. Navellier & Associates Inc. raised its holdings in shares of Cisco Systems by 33.1% in the fourth quarter. Navellier & Associates Inc. now owns 8,100 shares of the network equipment provider's stock valued at $480,000 after buying an additional 2,014 shares during the last quarter. TCW Group Inc. boosted its stake in shares of Cisco Systems by 1.1% during the fourth quarter. TCW Group Inc. now owns 55,787 shares of the network equipment provider's stock worth $3,303,000 after buying an additional 616 shares during the period. Finally, Wealthspire Advisors LLC grew its holdings in shares of Cisco Systems by 1.7% during the fourth quarter. Wealthspire Advisors LLC now owns 62,842 shares of the network equipment provider's stock worth $3,720,000 after buying an additional 1,057 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Activity at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 9,643 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the transaction, the executive vice president now owns 181,186 shares of the company's stock, valued at approximately $11,505,311. The trade was a 5.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 8,726 shares of Cisco Systems stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total value of $571,902.04. Following the sale, the executive vice president now directly owns 174,669 shares in the company, valued at approximately $11,447,806.26. This trade represents a 4.76% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 97,335 shares of company stock valued at $6,271,054. Insiders own 0.01% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Citigroup boosted their target price on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Rosenblatt Securities increased their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Wall Street Zen upgraded shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Finally, Piper Sandler raised their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Seven equities research 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.11.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded up $0.30 during trading on Wednesday, hitting $68.19. 19,378,861 shares of the company were exchanged, compared to its average volume of 20,165,054. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $68.52. The firm has a 50 day moving average price of $61.80 and a 200 day moving average price of $60.90. The stock has a market capitalization of $270.03 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 4.03 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. Cisco Systems's revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 earnings per share. On average, equities analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is 66.94%.

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.