KLCM Advisors Inc. Sells 49,796 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

KLCM Advisors Inc. decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 17.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 238,336 shares of the network equipment provider's stock after selling 49,796 shares during the quarter. Cisco Systems makes up 1.7% of KLCM Advisors Inc.'s portfolio, making the stock its 19th biggest holding. KLCM Advisors Inc.'s holdings in Cisco Systems were worth $14,708,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CSCO. Kornitzer Capital Management Inc. KS increased its position in Cisco Systems by 0.7% in the first quarter. Kornitzer Capital Management Inc. KS now owns 892,064 shares of the network equipment provider's stock worth $55,049,000 after buying an additional 6,501 shares in the last quarter. Golden State Wealth Management LLC grew its position in shares of Cisco Systems by 10.8% during the first quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider's stock worth $389,000 after purchasing an additional 612 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Cisco Systems by 28.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider's stock worth $249,180,000 after purchasing an additional 904,548 shares in the last quarter. Investment Management Corp of Ontario grew its position in shares of Cisco Systems by 44.6% during the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock worth $11,454,000 after purchasing an additional 59,680 shares in the last quarter. Finally, IFP Advisors Inc grew its position in shares of Cisco Systems by 2.6% during the first quarter. IFP Advisors Inc now owns 111,510 shares of the network equipment provider's stock worth $6,882,000 after purchasing an additional 2,839 shares in the last quarter. Institutional investors own 73.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CSCO. UBS Group increased their target price on Cisco Systems from $70.00 to $74.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Bank of America increased their target price on Cisco Systems from $76.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday. Rosenblatt Securities restated a "buy" rating and set a $87.00 price target on shares of Cisco Systems in a report on Thursday. Barclays restated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Piper Sandler raised their price target on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Cisco Systems currently has an average rating of "Moderate Buy" and a consensus target price of $71.85.

Insider Buying and Selling

In other Cisco Systems news, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the transaction, the insider owned 257,162 shares of the company's stock, valued at $16,450,653.14. This represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer directly owned 688,409 shares of the company's stock, valued at $44,478,105.49. The trade was a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock worth $6,271,054 in the last ninety days. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Stock Down 1.5%

Cisco Systems stock opened at $70.32 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The business's 50-day simple moving average is $67.89 and its two-hundred day simple moving average is $63.21. The company has a market cap of $278.45 billion, a PE ratio of 28.70, a PEG ratio of 3.96 and a beta of 0.91. Cisco Systems, Inc. has a fifty-two week low of $45.04 and a fifty-two week high of $72.55.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.01. The business had revenue of $14.67 billion during the quarter, compared to analysts' expectations of $14.63 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 EPS. Equities analysts anticipate 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, October 22nd. Investors of record on Friday, October 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.3%. Cisco Systems's payout ratio is 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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