Cisco Systems, Inc. (NASDAQ:CSCO) Stock Position Reduced by Phoenix Financial Ltd.

Key Points

• Phoenix Financial Ltd. has reduced its stake in Cisco Systems by 16.5%, bringing its ownership to 51,848 shares valued at approximately $3.2 million after selling 10,211 shares in the first quarter.
• Multiple institutional investors, including Glass Jacobson and Legacy Financial Group, have increased their stakes in Cisco Systems, demonstrating strong interest with over 73% of the stock owned by institutional investors.
• Cisco reported earnings of $0.96 per share for its last quarter, exceeding analysts' expectations and showing an uptick in revenue of 11.4% year-over-year.

Phoenix Financial Ltd. decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 16.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,848 shares of the network equipment provider's stock after selling 10,211 shares during the period. Phoenix Financial Ltd.'s holdings in Cisco Systems were worth $3,205,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CSCO. Navigoe LLC purchased a new position in shares of Cisco Systems in the 4th quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Cisco Systems in the 4th quarter valued at approximately $26,000. JDM Financial Group LLC grew its stake in shares of 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 purchasing an additional 300 shares during the last quarter. Fairway Wealth LLC grew its stake in shares of Cisco Systems by 224.7% in the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock valued at $36,000 after purchasing an additional 400 shares during the last quarter. Finally, Accredited Wealth Management LLC purchased a new position in shares of Cisco Systems in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Stock Up 0.6%

Shares of NASDAQ CSCO traded up $0.40 on Wednesday, hitting $68.36. The company had a trading volume of 5,371,678 shares, compared to its average volume of 21,164,893. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $69.78. The business has a 50 day moving average of $66.60 and a two-hundred day moving average of $62.56. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $270.69 billion, a P/E ratio of 27.90, a PEG ratio of 4.06 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data 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. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same quarter last year, the firm earned $0.88 EPS. Cisco Systems's quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.41 per share. The ex-dividend date was Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.40%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Insider Activity

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,407 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total transaction of $154,072.07. Following the completion of the sale, the executive vice president owned 177,027 shares in the company, valued at $11,331,498.27. This trade represents a 1.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the firm's stock in a transaction that occurred on 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 owned 309,543 shares of the company's stock, valued at approximately $20,281,257.36. This trade represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock worth $6,271,054 over the last quarter. Corporate insiders own 0.01% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on CSCO shares. Rosenblatt Securities lifted their price target on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Wolfe Research started coverage on Cisco Systems in a research note on Tuesday, July 8th. They issued a "peer perform" rating on the stock. Piper Sandler lifted their price target on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Finally, Barclays restated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Eight research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $70.35.

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.