Investors Research Corp Trims Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Investors Research Corp decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 80.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,337 shares of the network equipment provider's stock after selling 9,371 shares during the period. Investors Research Corp's holdings in Cisco Systems were worth $144,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Cisco Systems in the 4th quarter worth approximately $3,297,905,000. FMR LLC increased its stake in shares of Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock valued at $4,571,218,000 after buying an additional 13,285,052 shares during the period. Raymond James Financial Inc. bought a new position in shares of Cisco Systems during the fourth quarter valued at approximately $560,722,000. Alyeska Investment Group L.P. purchased a new stake in Cisco Systems in the fourth quarter worth $413,491,000. Finally, GAMMA Investing LLC boosted its holdings in Cisco Systems by 7,096.5% in the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock valued at $414,593,000 after acquiring an additional 6,625,045 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CSCO has been the subject of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a 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. New Street Research reissued a "neutral" rating and issued a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. UBS Group lifted their price objective on Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Finally, Piper Sandler upped their target price on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $68.00.

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the transaction, the executive vice president now owns 191,184 shares in the company, valued at $11,604,868.80. The trade was a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.50, for a total value of $612,330.50. Following the sale, the executive vice president now directly owns 181,186 shares in the company, valued at $11,505,311. This trade represents a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,616 shares of company stock worth $2,640,095. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Stock Up 0.8%

NASDAQ:CSCO traded up $0.51 during trading hours on Tuesday, reaching $64.36. 15,150,067 shares of the company traded hands, compared to its average volume of 20,206,794. 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 business's 50-day moving average price is $59.34 and its two-hundred day moving average price is $60.17. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The stock has a market capitalization of $254.87 billion, a P/E ratio of 28.10, a P/E/G ratio of 4.16 and a beta of 0.89.

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

Cisco Systems Announces Dividend

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 2.55%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Cisco Systems declared that its board has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its shares are undervalued.

About Cisco Systems

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.