Jacobs & Co. CA trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 89,254 shares of the network equipment provider's stock after selling 6,257 shares during the quarter. Jacobs & Co. CA's holdings in Cisco Systems were worth $5,507,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. FPC Investment Advisory Inc. bought a new stake in Cisco Systems during the 4th quarter valued at approximately $26,000. Navigoe LLC bought a new stake in Cisco Systems during the 4th quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Cisco Systems in the 4th quarter worth 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. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Cisco Systems in the 4th quarter worth approximately $30,000. 73.33% of the stock is owned by institutional investors.
Insider Transactions at Cisco Systems
In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares in the company, valued at approximately $2,693,013.45. This represents a 1.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Oliver Tuszik sold 15,000 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total value of $952,950.00. Following the completion of the sale, the executive vice president now owns 131,676 shares of the company's stock, valued at $8,365,376.28. The trade was a 10.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,616 shares of company stock worth $2,640,095 in the last three months. Corporate insiders own 0.01% of the company's stock.
Cisco Systems Stock Performance
Shares of NASDAQ CSCO traded down $0.24 during midday trading on Friday, hitting $62.81. 25,829,006 shares of the stock traded hands, compared to its average volume of 20,320,818. The firm has a 50-day moving average of $59.30 and a two-hundred day moving average of $60.10. The firm has a market capitalization of $248.73 billion, a P/E ratio of 27.43, a PEG ratio of 4.16 and a beta of 0.89. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released 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 for 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%. The company's revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 EPS. On average, equities analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
Cisco Systems announced that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its stock is undervalued.
Cisco Systems Announces Dividend
The business also recently disclosed 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 annualized dividend and a dividend yield of 2.61%. Cisco Systems's dividend payout ratio (DPR) is 66.94%.
Analysts Set New Price Targets
CSCO has been the topic of a number of analyst reports. Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Morgan Stanley reissued a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. The Goldman Sachs Group boosted their price target on Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Piper Sandler boosted their price target on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Finally, UBS Group boosted their price target on Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $68.00.
Check Out Our Latest Research Report on CSCO
About Cisco Systems
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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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