Jaffetilchin Investment Partners LLC Sells 4,640 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Jaffetilchin Investment Partners LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 11.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,706 shares of the network equipment provider's stock after selling 4,640 shares during the quarter. Jaffetilchin Investment Partners LLC's holdings in Cisco Systems were worth $2,203,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Border to Coast Pensions Partnership Ltd raised its position in shares of Cisco Systems by 5.3% in the first quarter. Border to Coast Pensions Partnership Ltd now owns 718,732 shares of the network equipment provider's stock valued at $44,353,000 after buying an additional 35,905 shares in the last quarter. Artemis Investment Management LLP bought a new position in Cisco Systems during the 1st quarter worth $9,994,000. Canvas Wealth Advisors LLC raised its holdings in Cisco Systems by 8.6% in the 1st quarter. Canvas Wealth Advisors LLC now owns 8,321 shares of the network equipment provider's stock valued at $513,000 after acquiring an additional 656 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of Cisco Systems by 20.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 706,329 shares of the network equipment provider's stock valued at $43,588,000 after acquiring an additional 118,191 shares during the period. Finally, Transcend Capital Advisors LLC grew its holdings in shares of Cisco Systems by 8.2% during the 1st quarter. Transcend Capital Advisors LLC now owns 48,804 shares of the network equipment provider's stock worth $3,012,000 after purchasing an additional 3,678 shares in the last quarter. Institutional investors own 73.33% of the company's stock.

Insiders Place Their Bets

In related news, EVP Thimaya K. Subaiya sold 8,726 shares of Cisco Systems stock in a transaction 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 completion of the sale, the executive vice president now owns 174,669 shares of the company's stock, valued at approximately $11,447,806.26. This trade represents a 4.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the sale, the chief financial officer now owns 309,543 shares in the company, valued at $20,281,257.36. This represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Price Performance

CSCO stock opened at $68.95 on Friday. The company has a market capitalization of $273.04 billion, a P/E ratio of 28.14, a PEG ratio of 4.08 and a beta of 0.88. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.25. The company has a fifty day moving average price of $62.31 and a 200-day moving average price of $61.02. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The business 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 26.48% and a net margin of 17.60%. The firm'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 earnings per share. As a group, equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CSCO shares. KeyCorp assumed coverage on Cisco Systems in a research note on Thursday. They issued an "overweight" rating and a $77.00 price target for the company. New Street Research reissued a "neutral" rating and issued a $70.00 target price on shares of Cisco Systems in a report on Friday, May 16th. 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 report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and increased their price target for the stock from $65.00 to $73.00 in a research report on Monday, June 16th. Finally, Rosenblatt Securities boosted their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of "Moderate Buy" and a consensus price target of $69.53.

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.

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