Lincluden Management Ltd. Cuts Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Lincluden Management Ltd. lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 14.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 192,802 shares of the network equipment provider's stock after selling 33,517 shares during the period. Cisco Systems makes up approximately 1.5% of Lincluden Management Ltd.'s holdings, making the stock its 17th largest position. Lincluden Management Ltd.'s holdings in Cisco Systems were worth $11,898,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Kornitzer Capital Management Inc. KS lifted its position in Cisco Systems by 0.7% during the first quarter. Kornitzer Capital Management Inc. KS now owns 892,064 shares of the network equipment provider's stock valued at $55,049,000 after acquiring an additional 6,501 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in 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 valued at $389,000 after purchasing an additional 612 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Cisco Systems by 28.9% in 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 buying an additional 904,548 shares in the last quarter. Investment Management Corp of Ontario lifted its stake in shares of Cisco Systems by 44.6% in 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 buying an additional 59,680 shares in the last quarter. Finally, IFP Advisors Inc increased 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 valued at $6,882,000 after acquiring an additional 2,839 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CSCO. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and upped their price objective for the stock from $65.00 to $73.00 in a research report on Monday, June 16th. Piper Sandler upped their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. CICC Research initiated coverage on shares of Cisco Systems in a research report on Monday, July 14th. They issued an "outperform" rating and a $78.00 price target on the stock. Rosenblatt Securities boosted their price objective on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, Wolfe Research started coverage on Cisco Systems in a research report on Tuesday, July 8th. They set a "peer perform" rating for the company. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $70.35.

Cisco Systems Trading Up 0.6%

CSCO stock traded up $0.40 during trading on Friday, hitting $68.69. 11,589,031 shares of the company traded hands, compared to its average volume of 17,593,400. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $69.78. The firm has a market capitalization of $272.01 billion, a PE ratio of 28.04, a P/E/G ratio of 4.09 and a beta of 0.90. The company has a 50-day moving average of $66.43 and a 200-day moving average of $62.41. 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 released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 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 11.4% on a year-over-year basis. During the same period last year, the business posted $0.88 EPS. Analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were issued a $0.41 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.39%. Cisco Systems's payout ratio is 66.94%.

Insider Activity at Cisco Systems

In related news, insider Jeetendra I. Patel sold 899 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total value of $57,778.73. Following the transaction, the insider directly owned 255,377 shares of the company's stock, valued at $16,413,079.79. This represents a 0.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the 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 directly owned 177,027 shares in the company, valued at $11,331,498.27. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock valued at $6,271,054 over the last 90 days. Insiders own 0.01% of the company's stock.

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.