North Star Investment Management Corp. lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 97,292 shares of the network equipment provider's stock after selling 3,908 shares during the period. North Star Investment Management Corp.'s holdings in Cisco Systems were worth $6,004,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new stake in shares of Cisco Systems in the 4th quarter valued at $26,000. Navigoe LLC acquired a new position in shares of Cisco Systems in the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC purchased a new stake in Cisco Systems during the 4th quarter worth approximately $26,000. JDM Financial Group LLC boosted its position in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after buying an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Cisco Systems in the fourth quarter worth $30,000. Institutional investors and hedge funds own 73.33% of the company's stock.
Insider Activity
In related news, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the sale, the insider now directly owns 257,162 shares in the company, valued at $16,450,653.14. This trade represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the completion of the transaction, the chief executive officer now directly owns 688,409 shares of the company's stock, valued at $44,478,105.49. This trade represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 72,931 shares of company stock worth $4,671,930. 0.01% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several research analysts recently commented on CSCO shares. Rosenblatt Securities boosted their target price on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Piper Sandler upped 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. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $65.00 to $73.00 in a research report on Monday. Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, JPMorgan Chase & Co. raised their price objective on Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cisco Systems has an average rating of "Moderate Buy" and a consensus price target of $69.11.
Read Our Latest Stock Report on CSCO
Cisco Systems Trading Up 2.2%
Shares of NASDAQ:CSCO traded up $1.41 during trading on Monday, reaching $65.50. 6,268,370 shares of the stock were exchanged, compared to its average volume of 21,410,092. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The firm's 50-day moving average price is $60.47 and its 200 day moving average price is $60.58. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The firm has a market cap of $259.36 billion, a price-to-earnings ratio of 28.60, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the prior year, the firm earned $0.88 EPS. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.
Cisco Systems Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued 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 2.50%. Cisco Systems's dividend payout ratio is presently 66.94%.
Cisco Systems Company Profile
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Free Report)
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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