Mogy Joel R Investment Counsel Inc. Reduces Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Mogy Joel R Investment Counsel Inc. decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 144,444 shares of the network equipment provider's stock after selling 5,400 shares during the period. Mogy Joel R Investment Counsel Inc.'s holdings in Cisco Systems were worth $8,914,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC increased 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 during the last quarter. Norges Bank bought a new position in shares of Cisco Systems during the 4th quarter worth about $3,297,905,000. Northern Trust Corp lifted its holdings in shares of Cisco Systems by 11.4% during the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock worth $2,796,505,000 after acquiring an additional 4,832,813 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Cisco Systems by 7.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider's stock valued at $2,159,099,000 after purchasing an additional 2,637,006 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Cisco Systems by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider's stock valued at $1,741,597,000 after acquiring an additional 681,555 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, EVP Oliver Tuszik sold 15,000 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total transaction of $952,950.00. Following the transaction, the executive vice president now directly owns 131,676 shares in the company, valued at $8,365,376.28. The trade was a 10.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles Robbins sold 29,784 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now owns 688,409 shares in the company, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 72,931 shares of company stock valued at $4,671,930. Insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded down $1.01 during trading on Friday, hitting $64.09. 14,630,776 shares of the company's stock traded hands, compared to its average volume of 20,142,259. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The stock has a market capitalization of $253.80 billion, a P/E ratio of 27.99, a PEG ratio of 4.16 and a beta of 0.88. The business has a 50-day simple moving average of $60.47 and a 200-day simple moving average of $60.56.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter last year, the company earned $0.88 earnings per share. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

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 paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio is currently 66.94%.

About Cisco Systems

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.