Kintegral Advisory LLC Sells 45,981 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Kintegral Advisory LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 32.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,750 shares of the network equipment provider's stock after selling 45,981 shares during the period. Cisco Systems makes up approximately 0.9% of Kintegral Advisory LLC's investment portfolio, making the stock its 25th largest holding. Kintegral Advisory LLC's holdings in Cisco Systems were worth $5,785,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Cisco Systems during the fourth quarter valued at approximately $3,297,905,000. FMR LLC raised its stake in shares of Cisco Systems by 20.8% during the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after purchasing an additional 13,285,052 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Cisco Systems during the 4th quarter worth approximately $560,722,000. Alyeska Investment Group L.P. bought a new stake in shares of Cisco Systems during the 4th quarter worth approximately $413,491,000. Finally, GAMMA Investing LLC raised its stake in shares of Cisco Systems by 7,096.5% during the 1st quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock worth $414,593,000 after purchasing an additional 6,625,045 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CSCO. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. New Street Research reiterated a "neutral" rating and set a $70.00 price objective on shares of Cisco Systems in a research note on Friday, May 16th. Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. 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 report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $69.53.

Cisco Systems Price Performance

Shares of CSCO traded down $0.45 during trading hours on Monday, hitting $68.93. 7,190,935 shares of the company were exchanged, compared to its average volume of 20,299,054. The company has a market cap of $272.94 billion, a price-to-earnings ratio of 28.14, a P/E/G ratio of 4.15 and a beta of 0.90. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $69.78. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The firm's fifty day moving average is $63.93 and its 200 day moving average is $61.51.

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 (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. Cisco Systems's quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 EPS. On average, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.38%. Cisco Systems's dividend payout ratio is currently 66.94%.

Insider Buying and Selling at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 8,726 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the completion of the sale, the executive vice president directly owned 174,669 shares in the company, valued at $11,447,806.26. This represents a 4.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total value of $154,072.07. Following the sale, the executive vice president owned 177,027 shares in the company, valued at approximately $11,331,498.27. This trade represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock worth $6,271,054 over the last quarter. 0.01% of the stock is currently owned by company 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.