Janney Montgomery Scott LLC Trims Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Janney Montgomery Scott LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,744,862 shares of the network equipment provider's stock after selling 11,668 shares during the quarter. Janney Montgomery Scott LLC's holdings in Cisco Systems were worth $107,675,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Mission Wealth Management LP grew its position in shares of Cisco Systems by 19.1% in the first quarter. Mission Wealth Management LP now owns 63,560 shares of the network equipment provider's stock valued at $3,922,000 after purchasing an additional 10,183 shares in the last quarter. Brown Miller Wealth Management LLC grew its position in Cisco Systems by 11.4% during the first quarter. Brown Miller Wealth Management LLC now owns 73,899 shares of the network equipment provider's stock worth $4,560,000 after buying an additional 7,569 shares in the last quarter. Hanson & Doremus Investment Management grew its position in Cisco Systems by 25.2% during the first quarter. Hanson & Doremus Investment Management now owns 69,367 shares of the network equipment provider's stock worth $4,281,000 after buying an additional 13,940 shares in the last quarter. Traphagen Investment Advisors LLC grew its position in Cisco Systems by 3.2% during the first quarter. Traphagen Investment Advisors LLC now owns 26,339 shares of the network equipment provider's stock worth $1,625,000 after buying an additional 811 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG grew its position in Cisco Systems by 4.0% during the first quarter. Bank Pictet & Cie Europe AG now owns 28,580 shares of the network equipment provider's stock worth $1,756,000 after buying an additional 1,100 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 9,643 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the transaction, the executive vice president now owns 181,186 shares in the company, valued at $11,505,311. The trade was a 5.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeetendra I. Patel sold 899 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $64.27, for a total value of $57,778.73. Following the transaction, the insider now owns 255,377 shares in the company, valued at approximately $16,413,079.79. This represents a 0.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,931 shares of company stock worth $4,671,930 in the last 90 days. Company insiders own 0.01% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Rosenblatt Securities boosted their target price on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Barclays restated an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. Finally, Piper Sandler boosted their target price on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research 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 stock. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of "Moderate Buy" and an average target price of $68.00.

Cisco Systems Trading Down 1.6%

NASDAQ CSCO opened at $64.09 on Monday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. 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 stock has a 50-day moving average of $60.47 and a 200-day moving average of $60.58. The firm has a market cap of $253.80 billion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The company had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the previous year, the company posted $0.88 EPS. Cisco Systems's revenue for the quarter was up 11.4% on a year-over-year basis. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current 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 issued a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.56%. Cisco Systems's dividend payout ratio is presently 66.94%.

Cisco Systems 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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