Raiffeisen Bank International AG Has $47.89 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Raiffeisen Bank International AG reduced its stake in Cisco Systems by 9.2%, holding now worth $47.89 million after selling off 79,570 shares during the 1st quarter.
• Insider transactions included CFO Richard Scott Herren and CEO Charles Robbins selling shares, indicating a decrease in their ownership by 4.82% and 4.15% respectively.
• Cisco reported a quarterly EPS of $0.96, beating estimates, and announced a quarterly dividend of $0.41, with an annualized yield of 2.4%.

Raiffeisen Bank International AG lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 9.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 786,905 shares of the network equipment provider's stock after selling 79,570 shares during the quarter. Raiffeisen Bank International AG's holdings in Cisco Systems were worth $47,891,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Navigoe LLC bought a new position in Cisco Systems during the fourth quarter valued at about $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems during the fourth quarter worth about $26,000. JDM Financial Group LLC grew its position in Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after buying an additional 300 shares in the last quarter. Fairway Wealth LLC grew its position in Cisco Systems by 224.7% during the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock worth $36,000 after buying an additional 400 shares in the last quarter. Finally, Accredited Wealth Management LLC acquired a new stake in Cisco Systems during the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 73.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Evercore ISI reaffirmed an "in-line" rating and set a $72.00 price target on shares of Cisco Systems in a report on Monday, July 28th. Rosenblatt Securities upped their target price 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. New Street Research reiterated a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. UBS Group upped their price objective on shares of Cisco Systems from $70.00 to $74.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Piper Sandler upped their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of "Moderate Buy" and an average target price of $70.55.

Cisco Systems Stock Performance

Cisco Systems stock traded down $0.77 during trading hours on Tuesday, hitting $67.72. The company had a trading volume of 3,849,439 shares, compared to its average volume of 21,071,521. The firm has a market cap of $268.19 billion, a PE ratio of 27.66, a PEG ratio of 3.76 and a beta of 0.91. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78. The firm has a 50-day moving average of $66.98 and a 200 day moving average of $62.81.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its earnings results 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 net margin of 17.60% and a return on equity of 26.48%. The company had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same period last year, the firm earned $0.88 earnings per share. The business's revenue for the quarter was up 11.4% on a year-over-year basis. On average, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were given a dividend of $0.41 per share. The ex-dividend date was Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.4%. Cisco Systems's dividend payout ratio (DPR) is currently 66.94%.

Insider Buying and Selling at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total transaction of $571,902.04. Following the sale, the executive vice president owned 174,669 shares in the company, valued at approximately $11,447,806.26. This trade represents a 4.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total value of $154,072.07. Following the completion of the transaction, the executive vice president owned 177,027 shares of the company's stock, valued at $11,331,498.27. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock worth $6,271,054 in the last three months. Company insiders own 0.01% of the company's stock.

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.