Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 356,174 shares of the network equipment provider's stock after selling 10,280 shares during the quarter. Private Advisor Group LLC's holdings in Cisco Systems were worth $21,980,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in CSCO. Navigoe LLC acquired a new stake in Cisco Systems during the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC bought a new position in shares of Cisco Systems in the fourth quarter valued at approximately $26,000. JDM Financial Group LLC raised its stake in shares of Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after acquiring an additional 300 shares during the last quarter. Runnymede Capital Advisors Inc. bought a new position in Cisco Systems in the 4th quarter worth approximately $30,000. Finally, Fairway Wealth LLC raised its position in Cisco Systems by 224.7% in the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock worth $36,000 after purchasing an additional 400 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

Shares of CSCO traded down $0.25 during mid-day trading on Friday, hitting $68.05. 16,138,141 shares of the company traded hands, compared to its average volume of 20,303,674. The stock has a 50-day moving average price of $65.84 and a two-hundred day moving average price of $62.11. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The stock has a market cap of $269.48 billion, a price-to-earnings ratio of 27.78, a P/E/G ratio of 4.07 and a beta of 0.90. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $69.78.

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, beating analysts' consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. Cisco Systems's revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 earnings per share. Equities analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.41%. Cisco Systems's dividend payout ratio is currently 66.94%.

Insiders Place Their Bets

In other news, EVP Deborah L. Stahlkopf sold 9,643 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.50, for a total value of $612,330.50. Following the completion of the sale, the executive vice president owned 181,186 shares of the company's stock, valued at approximately $11,505,311. This represents a 5.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Scott Herren sold 15,678 shares of Cisco Systems stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the transaction, the chief financial officer directly owned 309,543 shares in the company, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Piper Sandler lifted 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. Wall Street Zen lowered shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Wolfe Research assumed coverage on shares of Cisco Systems in a report on Tuesday, July 8th. They issued a "peer perform" rating for the company. Rosenblatt Securities boosted their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $70.35.

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.