Means Investment CO. Inc. Cuts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Means Investment CO. Inc. decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 15.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,349 shares of the network equipment provider's stock after selling 3,970 shares during the period. Means Investment CO. Inc.'s holdings in Cisco Systems were worth $1,317,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new position in Cisco Systems in the fourth quarter valued at $26,000. Navigoe LLC bought a new position in shares of Cisco Systems during the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC bought a new position in shares of Cisco Systems during the 4th quarter valued at about $26,000. JDM Financial Group LLC increased its position in shares of Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after purchasing an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Cisco Systems during the 4th quarter valued at about $30,000. Institutional investors own 73.33% of the company's stock.

Cisco Systems Trading Up 0.7%

Shares of CSCO stock traded up $0.48 during trading hours on Friday, reaching $66.32. The company's stock had a trading volume of 50,354,241 shares, compared to its average volume of 20,278,229. The stock has a market capitalization of $262.63 billion, a P/E ratio of 27.07, a P/E/G ratio of 3.94 and a beta of 0.88. The firm's fifty day simple moving average is $61.38 and its 200 day simple moving average is $60.78. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.65. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced 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. 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 previous year, the firm posted $0.88 EPS. Equities research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.47%. Cisco Systems's payout ratio is 66.94%.

Analyst Upgrades and Downgrades

CSCO has been the topic of a number of recent research reports. Rosenblatt Securities increased their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. increased their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Piper Sandler increased their target price 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. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $69.11.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 15,678 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the sale, the chief financial officer now owns 309,543 shares in the company, valued at approximately $20,281,257.36. This represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Robbins sold 29,784 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the sale, the chief executive officer now owns 688,409 shares in the company, valued at approximately $44,478,105.49. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is currently 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.