Janney Capital Management LLC Has $18.06 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Janney Capital Management LLC decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 292,627 shares of the network equipment provider's stock after selling 14,537 shares during the quarter. Cisco Systems accounts for about 1.2% of Janney Capital Management LLC's portfolio, making the stock its 17th largest position. Janney Capital Management LLC's holdings in Cisco Systems were worth $18,058,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc increased its stake in Cisco Systems by 8.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock worth $123,000 after buying an additional 166 shares in the last quarter. Fairhaven Wealth Management LLC lifted its holdings in shares of Cisco Systems by 2.3% in the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider's stock valued at $449,000 after acquiring an additional 167 shares during the last quarter. BlackDiamond Wealth Management LLC raised its position in Cisco Systems by 3.1% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock worth $335,000 after purchasing an additional 168 shares during the period. Legacy Financial Group Inc. raised its position in Cisco Systems by 3.4% in the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock worth $302,000 after purchasing an additional 169 shares during the period. Finally, Maple Capital Management Inc. raised its position in Cisco Systems by 1.4% in the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider's stock worth $709,000 after purchasing an additional 170 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Stock Up 0.8%

CSCO stock opened at $65.84 on Thursday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The firm has a market cap of $260.73 billion, a PE ratio of 26.87, a P/E/G ratio of 3.91 and a beta of 0.88. The firm has a 50 day simple moving average of $61.02 and a 200 day simple moving average of $60.69. 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 (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data 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 analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 EPS. Equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is currently 66.94%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CSCO. Deutsche Bank Aktiengesellschaft raised shares of 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 report on Monday. Rosenblatt Securities lifted their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Piper Sandler lifted their price objective 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. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. Finally, Evercore ISI lifted their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $69.11.

Insider Buying and Selling

In other news, insider Jeetendra I. Patel sold 9,961 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the transaction, the insider now owns 257,162 shares of the company's stock, valued at approximately $16,450,653.14. This trade represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Oliver Tuszik sold 15,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the completion of the transaction, the executive vice president now directly owns 131,676 shares in the company, valued at $8,365,376.28. This trade represents a 10.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,931 shares of company stock worth $4,671,930 in the last quarter. 0.01% of the stock is owned by corporate 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.

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